Toronto based identity networks provider SecureKey has announced that it has fully divested its hardware security token group. SecureKey has transferred all of its hardware patents and its engineering team to Kili Technology Corporation: a new company founded by SecureKey chairman Greg Wolfond that will be lead by the original company’s former vice president of hardware engineering, Afshin Rezayee.
According to SecureKey CEO Charles Walton, the decision to divest comes from a stance of efficiency, since SecureKey’s core business is service oriented and not hardware based.
Walton expands: “Recognizing the potential that still exists for hardware security tokens, Kili Technology has acquired all of the relevant SecureKey patents and other IP, as well as the engineering team, to continue pursuing this market under the leadership of Afshin Rezayee.”
With Rezayee and the former SecureKey engineering team taking on the hardware end of things at Kili Technology, the networks provider will be able to better focus on its cloud initiatives such as briidge.net, which provides easy and secure access to Canadian Government services and was recently chosen by the US Postal Service as an authentication solution for the Federal Cloud Credential Exchange.