RUMLANG, Switzerland – dormakaba has become a minority shareholder in global secure identity and access solutions company Safetrust, according to a joint announcement.
Safetrust is a provider of high-tech identity management solutions, trusted by some of the world’s largest organizations. Founded in 2018, the company is based in Fremont, Calif., and employs 100 people. Safetrust delivers scalable, post-quantum-ready security through a fully managed identity ecosystem.
It “enables secure access to physical and logical systems, including doors, elevators, turnstiles and computers,” according to the joint announcement. Safetrust is “an ideal complement to dormakaba’s existing offerings in the North American market,” the announcement says.
Why dormakaba Invested in Safetrust
“We are extremely impressed by the development of Safetrust over the past years and are delighted to partner with the company in the future,” says Till Reuter, CEO of dormakaba, in the joint announcement. “This investment aligns with our strategy and strengthens our position as a leading access solutions provider in the North American market.”
“Safetrust bridges the connection between people, things, and the resources they interact with, empowering customers to enhance safety and operational efficiencies – solving today’s security challenges while preparing for the digital world of tomorrow,” says Jason Hart, CEO of Safetrust, in the announcement.
“By combining dormakaba’s expertise in smart, sustainable access solutions with Safetrust’s global eco-system of identity and workplace insights, we drive a shared vision for secure access,” he says.
The parties have agreed not to disclose further details and the financial terms of the transaction.
