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Kili Technology Corporation acquires SecureKey assets and engineers.

October 10, 2013

SecureKey has announced that it has now completed the transfer of its hardware security token group to Kili Technology Corporation.

Kili was just founded and has acquired the assets and engineering team from SecureKey. Afshin Rezayee, formerly vice president of hardware engineering at SecureKey, will lead Kili Technology,and along with the rest of the hardware engineering team will form the core of the new company.

Kili Technology was founded by SecureKey Chairman Greg Wolfond with funding from Toronto-based Blue Sky Capital.

"SecureKey's core business is providing cloud-based authentication services, so developing our own hardware devices is no longer the most efficient approach for us moving forward,"Charles Walton, CEO at SecureKey said. "Recognizing the potential that still exists for hardware security tokens, Kili Technology has acquired all of the relevant SecureKey patents and other IP, as well as the engineering team, to continue pursuing this market under the leadership of Afshin Rezayee."

Reported previously, SecureKey recently announced that it is adding FIDO Alliance specification to its cloud-based authentication platform and has joined the Alliance as a Sponsor Level member.

"SecureKey's hardware security token group will find a good home at Kili Technology, and we are excited by the opportunity to drive this business forward as an independent entity," Afshin Rezayee, co-president of Kili Technology said. "With our excellent engineering team, technology and customer base, and the support of our backers, we are confident about the success of this new venture."

By Adam Vrankulj