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IAR Systems acquires 10% equity stake in Secure Thingz

last modified Apr 28, 2017 09:46 AM
Establishing billions of secure chains of trust

IAR Systems, a future-proof supplier of software tools and services for embedded development, today announced an alliance with ideaSpace alumni Secure Thingz, a provider of advanced security solutions focused on the Internet of Things (IoT), to enable more secure, connected devices across their lifecycle. Additionally, IAR Systems announced it is taking an initial 10 percent equity stake in the company. 

The alliance is primarily focused on technology innovation to simplify the integration of security and enable the management of critical intellectual property within the product development process. Industry analysts predict there will be 27 billion IoT connections in 2025, representing a $3 trillion revenue opportunity. However, delivering completely secure, embedded systems is a major challenge today, especially within high-growth markets such as critical infrastructure, Industrial IoT and automotive, as multiple high-profile security breaches have already impacted these industries. Secure Thingz delivers products and services for the development, deployment and management of next- generation, secure devices. IAR Systems offers complete software tools that ensure quality, reliability and efficiency in embedded development. The companies’ joint solutions will enable secure device identities and privileges, allowing manufacturers and users alike to establish secure supply chains of trust, from silicon device manufacture to end-user product deployment and updates. 

“Traditional solutions for IoT security are unable to defend against rapidly advancing threats. The Secure Thingz approach, with our partners, focuses on delivering robust security foundations, which can be leveraged across the device lifecycle,” said Krishna Anne, President and CEO, Secure Thingz. “IAR Systems has a proven history of creating software tools and services for robust embedded development. Through our partnership, we will provide a one-stop solution to seamlessly integrate security and simplify the development process.” 

“The best way to take advantage of the possibilities of the connected world is by sharing knowledge, establishing strong strategic alliances and providing new technology offerings. We are now investing in Secure Thingz as we believe its solutions really can create the necessary security in a world of connected devices and products,” said Stefan Skarin, CEO and President, IAR Systems. “The market for security is expected to grow enormously in many areas, especially due to rise of the IoT, and we plan to focus more on these specific areas, both to position us in the near future and in the long run.”

IAR Systems Contacts 

Stefan Skarin, CEO and President, IAR Systems
Tel: +46 18 16 78 00 Email: stefan.skarin@iar.com 

AnnaMaria Tahlén, Media Relations, IAR Systems
Tel: +46 18 16 78 00 Email: annamaria.tahlen@iar.com

Secure Thingz Contact 

Krishna Anne, CEO, Secure Thingz
Tel: +1 408 219 1569 Email: Krishna.anne@securethingz.com 

Tiffany Sparks, Media Relations, Secure Thingz
Tel: +1 408 858 1892 Email: tiffany.sparks@securethingz.com

About IAR Systems 

IAR Systems supplies future-proof software tools and services for embedded development, enabling companies worldwide to create the products of today and the innovations of tomorrow. Since 1983, IAR Systems’ solutions have ensured quality, reliability and efficiency in the development of over one million embedded applications. The company is headquartered in Uppsala, Sweden and has sales and support offices all over the world. IAR Systems Group AB is listed on NASDAQ OMX Stockholm, Mid Cap. Learn more at www.iar.com 

About Secure Thingz 

Secure Thingz, Inc. is the domain expert in security, micro-controllers and embedded systems. The company is focused on delivering advanced security solutions into the emerging Industrial Internet of Things (IIoT) and critical infrastructure markets. The Secure DeployTM platform has been developed to solve the major security issues challenging the IoT. Our solution ensures a cost-efficient root of trust in low cost microcontroller to deliver a core set of critical services through the product life cycle, alongside secure deployment, production and update infrastructure. For more information, please 

visit www.securethingz.com

 

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