Telstra invests in two-factor authentication company

Telstra invests in two-factor authentication company

Summary: Telstra has made strategic investment into two-factor authentication company TeleSign, in a move that will see the company's security offerings brought into Telstra's products.

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TOPICS: Security, Telcos, Telstra
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Telstra has taken a non-controlling stake in TeleSign, a US-based mobile authentication company, as the telco looks to beef up the security on its products.

TeleSign, which provides two-factor authentication via SMS to users on sites such as Google or Facebook, has more than 3.5 billion accounts in 200 countries.

Although the terms of the deal were not disclosed, a spokesperson confirmed today that Telstra's stake in the company was not a controlling stake.

In April, TeleSign managed to gain US$40 million in Series B funding, and Telstra's managing director of ventures, Mark Sherman said that Telstra's own investment would help expand the company even further, including into Telstra's products.

"The TeleSign solution brings additional security to data and identity, enabling a safe and confident service experience. We are excited to part of the journey as the company continues to expand globally," he said.

"We hope to be able to offer a range of mobile identity solutions from this innovative provider and we will work closely with TeleSign to explore opportunities to bring this technology to our own customers."

TeleSign CEO Steve Jillings said that Telstra's strategic investment would allow TeleSign to expand into the Asia-Pacific region.

"Companies are searching for simple-to-use, effective security solutions that can serve a global user base. This investment will allow us to work closely with Telstra, combining our expertise and their regional experience to better serve customer needs," he said.

Topics: Security, Telcos, Telstra

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Armed with a degree in Computer Science and a Masters in Journalism, Josh keeps a close eye on the telecommunications industry, the National Broadband Network, and all the goings on in government IT.

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