Kyocera buys security firm Motex for $127M

Japanese electronics company will fork out 10 billion yen to acquire the security software developer as it looks to capitalize on the growing demand for secure smartphone data.

Japanese electronics company Kyocera has announced it will be buying security software maker Motex as it looks to ride the increasing demand for secure smartphone data.

In a report by Reuters Tuesday, citing Nikkei, Kyocera will be forking out some 10 billion yen (US$126.7 million) for the security company, and the two companies will jointly develop remote monitoring systems for smartphones and tablets. No financial details of the deal were revealed, though.

Kyocera will be tapping on Motex's expertise on device management, and its market reach. Motex holds more than 30 percent share of the corporate PC network security software in Japan, the report noted.

The deal will bolster Kyocera's security business' annual sales to nearly 5 billion yen (US$63.4 million), Reuters added.

A Forrester Research survey earlier this month pointed out that the worry for many IT executives in the bring-your-own-device (BYOD) era revolves around securing devices and applications . As a result, mobile decision-makers are planning to spend heavily on mobile device management tools in the next 12 months.