Acquisition of TrustPoint Innovation Technologies, Ltd. advances global expansion of embedded systems security business
ETAS Embedded Systems Canada Inc. plans to acquire Canada-based TrustPoint Innovation Technologies Ltd., based in Waterloo, Ontario to further strengthen ETAS’ global expertise in embedded security solutions. The acquisition is subject to the approval of antitrust authorities.
TrustPoint Innovation Technologies, Ltd., founded in 2012 by Dr. Scott Vanstone, a renowned cryptographer, and Sherry Shannon-Vanstone, develops innovative products and solutions to address the security needs for the Internet of Things (IoT) and M2M communication markets including connected cars, smart cities, and critical infrastructure applications.
"This acquisition will enhance our offerings in safety and security solutions through close collaboration with our subsidiary and security specialist ESCRYPT to address additional vertical markets and use cases," says Friedhelm Pickhard, Chairman of the Board of Management ETAS GmbH.
"We are excited to be able to combine our technological know-how with the expertise and passion of ESCRYPT to further advance cybersecurity in connected vehicles and IoT," says Sherry Shannon-Vanstone, President and CEO of TrustPoint Innovation Technologies, Ltd.
The acquired company will be integrated into the operations of ETAS Embedded Systems Canada Inc., led by Managing Director David MacFarlane. He states, "This is an exciting and fast-paced industry and together with our new associates from TrustPointInnovation Technologies, Ltd. we look forward to being at the forefront for years to come."