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Authentic8.com Australia, a pioneer in Smart Card-based security solutions for e-business, has engaged Deutsche Bank to advise on a $7million capital raising.
The Melbourne-based company has been granted an exclusive license to utilize security technology developed by its parent company, Authentic8 International, also headquartered in Melbourne. Deutsche Bank is one of the original investors in Authentic8 International, whose other investors include Australian Innovation, Jager Pty Ltd, Mooroolbark Investments and Allen & Buckeridge.
"We have engaged Deutsche Bank to screen strategic investment opportunities in the Australian market place. Authentic8.com will be looking to offer limited equity to strategic partners and investors in order to enable accelerated deployment of our unique outsourced e-business authentication service," says Stephen Thompson, CEO of Authentic8.com.
Authentic8.com's recently launched outsourced service is designed to tackle the serious issue of reliable identification and verification of users of an organisation's network in an Internet environment which, by its very nature, is open and insecure. The smart card-based solution provides the full security benefits of Public Key Infrastructure (PKI) without the cost, time and complexity of an in-house PKI deployment.
"Awareness of Authentic8 International's success overseas with British Telecom has fuelled strong demand for our service here in Australia,". Thompson says.
Authentic8 International is currently assisting British Telecommunications PLC to create an authentication portal, similar to the Australian Authentic8.com service, in the United Kingdom and is looking to set up similar authentication portals in other geographic areas. BT has already awarded Authentic8 International a contract to supply an authentication solution for its remote access workers, which could see 60,000 BT staff using the Authentic8 system within the next three years.
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