CoreStreet Sold to ActivIdentity for $20M
Wade Roush12/14/09
Fremont, CA-based ActivIdentity, which makes software and devices used to authenticate individuals entering secure facilities or logging on to private networks, said today that it is acquiring Cambridge, MA-based competitor CoreStreet for $20 million in cash, stock, and warrants. ActivIdentity said CoreStreet’s physical access control products and its distributed credential validation system—in which the information needed to update electronic locks is carried between locks on employees’ own smart cards—will strengthen its own credential management product lineup. CoreStreet, which Xconomy profiled in October 2007, had raised an undisclosed amount of venture funding from backers that included In-Q-Tel, the venture arm of the U.S. intellience community.
Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can e-mail him at wroush@xconomy.com or follow him on Twitter at twitter.com/wroush.
