WidePoint Buys Probaris ID Software Suite

IT services provider WidePoint has acquired the assets pertaining to the Probaris ID software suite.

WidePoint Buys Probaris ID Software SuiteThe move brings biometric identification capabilities into WidePoint’s portfolio, with Probaris having developed the identity management suite primarily for the management of large numbers of IDs and users. While such technology offers impactful applications in the enterprise market, a growing interest in biometrics in the government sector may also have been an important factor in the acquisition of Probaris’ FIPS 201-compliant technology: In a statement, WidePoint CEO Jeff Nyweide said it offers his company “the opportunity to support several new federal agency relationships with a new partner that could generate millions of dollars of additional high-margin revenues for the company”.

WidePoint says the acquisition is valued at approximately $400,000, $300,000 of which has been paid up front while $100,000 will be based on the software’s performance and other conditions agreed upon by the companies.