Equifax announced Monday the acquisition of identity security and management software maker Anakam for an undisclosed sum.
Anakam makes software that can replace key cards or other physical methods for identity verification. The San Diego-based company provides security applications to government, health care and the technology industry.
Anakam, a privately held technology company founded in 2004, will operate under Atlanta-based Equifax’s Technology and Analytical Services division. The company previously worked as a partner in the development of Equifax’s I-Card, a portable, electronic identity verification system.
The personal identity verification industry has grown with the rise of online commerce and Web-based information sharing, Equifax said.
Equifax, perhaps best known as a credit rating agency, said it verifies more than 60 million identities annually.
Rajib Roy, president of Equifax Technology and Analytical Services, said the acquisition will “allow us to broaden our portfolio of solutions in this large and rapidly growing market. With Anakam, Equifax will become a premier provider of cloud-based authentication solutions.”
Also Monday, Equifax announced it will report third-quarter earnings after markets close Oct. 27, with its quarterly earnings conference call to follow before markets open Oct. 28.
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