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<h1><strong>ActivIdentity To Acquire CoreStreet</strong></h1>
<p><em>Publication Date: December 14 2009</em><br />
<em>Original Appearance: </em><a href="http://www.corestreet.com/about/news_events/pr/2009/2009_12_14.html">ActivIdentity Press Release</a></p>
<h3><strong>Deal Extends Strong Authentication and Credential Management Offerings for Government Agencies and Enterprises</strong>
<p>ActivIdentity Corporation (NASDAQ: ACTI), a global leader in strong authentication and credential management, today announced that it had entered into an agreement to acquire CoreStreet Ltd., a leader in distributed identity credential validation solutions.</p>
<p>The consideration for the acquisition of approximately $20 million will consist primarily of cash but will also include stock and warrants. The acquisition is subject to customary closing conditions and is expected to be completed in December 2009. ActivIdentity expects this acquisition to add on a full year basis approximately 10% to its revenue base and to be accretive to adjusted EBITDA.</p>
<p>With the addition of CoreStreet&rsquo;s Public Key Infrastructure (PKI) certification technology, distributed identity credential validation system, and physical access control products, ActivIdentity believes the acquisition will strengthen its strong authentication and credential management product portfolio to confidently establish a person's identity when interacting digitally.</p>
<p>&ldquo;Customer demand for scalable identity credential and authentication management solutions is growing exponentially as organizations of all sizes strive to ensure that only authorized personnel are accessing their facilities, networks, data, or applications,&rdquo; said Grant Evans, chairman and chief executive officer of ActivIdentity. &ldquo;CoreStreet&rsquo;s solutions, talent and customers complement ActivIdentity&rsquo;s business and we believe they will extend our ability to deliver a comprehensive set of capabilities that enable organizations to protect against cyber-security threats and identity fraud. This deal represents the first piece in our growth strategy going forward.&rdquo;</p>
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<p><a href="http://www.corestreet.com/about/news_events/pr/2009/2009_12_14.html"><span class="Apple-style-span"><span class="Apple-style-span"><span>Read More &gt;&gt;&gt;</span></span></span></a></p>
