SAN RAMON, Calif., May 14, 2013 /PRNewswire/ -- 8KMiles, a leading global cloud computing company, today announced the acquisition of FuGen Solutions for $7.5 million to expand and build on its cloud and big data security services and solutions to better serve and meet large enterprises and government agencies' growing security and compliance needs.
The purchase includes the acquisition of FuGen Solutions' market leading patented Cloud Identity Broker and Multi-domain Identity Services Platform (MISP™), an on-demand partner onboarding platform that extends the capabilities of existing Identity Management (IDM), SSO solutions and legacy services to allow enterprise customers and their partners to establish, scale and manage their federated access, certification and SSO, and web services via the cloud. The platform is complementary to 8KMiles' existing cloud architecture, serving as an added layer of security, while streamlining authentication and enabling secure single sign-on access across multiple cloud-based business systems.
"8KMiles has deep expertise in secure cloud solutions, meeting important security qualifications such as FISMA in key verticals such as government and more. Our acquisition of FuGen Solutions will further enhance our security services platform in the cloud, while offering innovative, complementary security measures such as Identity and Access Management to help streamline authentication across multiple cloud-based business systems," said Suresh Venkatachari, 8KMiles chairman and CEO. "By incorporating and expanding on FuGen's intellectual property for its enterprise Cloud Identity Broker, we are better poised to meet the security needs of large enterprises and government agencies."
FuGen Solutions Founder and CEO, Lena Kannappan, will join 8KMiles as COO and serve on its Board of Directors and continue to lead the market in identity federation for the cloud, while focusing on building out other 8KMiles platform capabilities to enhance and broaden its overall cloud solutions offering. Furthermore, FuGen, a trusted name in the industry, will become a subsidiary of 8KMiles, bringing onboard trusted partners such as CA Technologies and customers in industry verticals such as e-commerce, energy, financial services, government and insurance.
"I am pleased to join the company and bring FuGen's technology to 8KMiles," said Lena Kannappan, new COO of 8KMiles. "8KMiles has taken extraordinary measures to secure the Amazon Cloud for enterprise customers and FuGen's intellectual property further strengthens 8KMiles' Amazon Secure Virtual Private Cloud offering. By creating a solution for secure single sign-on access in the cloud from FuGen's partner onboarding and identity broker services platform, 8KMiles will create a clear differentiator in the market to serve large enterprises and government agencies."
Presently, 8KMiles/FuGen is in a pilot program with leading Fortune 500 clients for single sign-on and social identity access in the cloud.
"In addition to acquiring FuGen, we plan to announce other key acquisitions later this year that continue to build our platform to better serve the needs of large enterprises and government agencies," added Suresh Venkatachari, 8KMiles chairman and CEO.
8KMiles was recently selected as an Amazon Web Services (AWS) Premier Consulting Partner, a designation for a select group of Amazon cloud partners leading the industry. As an AWS Consulting Partner, 8KMiles has over five years of experience in cloud solutions. 8KMiles' team of cloud experts and enterprise-level cloud architecture is robust yet tailored in its approach, helping companies to power their cloud and go-to-market strategies, while achieving greater cloud computing savings and efficiencies.
8KMiles is a global cloud computing company based in the U.S. The 8KMiles platform offers cloud and big data security services and solutions to better serve and meet the growing security and compliance needs of enterprises and government agencies. As an Amazon Web Services Premier Consulting Partner, 8KMiles has seasoned on-demand professionals with in-depth AWS and Security expertise who can enhance customer applications to leverage the elasticity of AWS and make applications even more secure on AWS than On-Premise hosting.
For more information about 8KMiles visit www.8kmiles.com
SOURCE 8K Miles