On July 18, 2007 Oracle announced our plan to buy Bharosa, a leading provider of fraud prevention and strong authentication security solutions. The transaction will extend Oracle's Identity Management capabilities by adding proactive real time risk-analysis, strong authentication and fraud prevention. The transaction is subject to customary conditions and is expected to close in August 2007. Until the deal closes, each company will continue to operate independently, and it is business as usual.
Online fraud has increased, causing users to lose confidence in web-based services and leading to significant impact to business. Driven by specific regulatory mandates such as FFIEC, PCI, and HIPAA, organizations are under pressure to proactively detect and prevent fraud and provide more granular reporting of their progress toward protecting the privacy of consumers. Bharosa provides key capabilities spanning strong authentication, mutual authentication, contextual authorization, proactive real-time risk monitoring and fraud detection, and real-time reporting and analysis. Their proven technology secures leading consumer web sites, including those of National City Bank and 30 others, protecting over 25 million users. Bharosa's products restore confidence in the Web channel, reduce the costs and complexity of interacting with consumers, protect users against online threats, and mitigate misuse from privileged users within the enterprise.
The acquisition of Bharosa is expected to extend Oracle's ability to offer its customers comprehensive web-based access management solutions. Combined with Oracle's identity management products, these innovative solutions will deliver the next generation of adaptive, risk-based access management providing our customers with a comprehensive set of tools to protect and manage access to their assets.
We are excited about this acquisition and how it will accelerate innovation in identity management. To learn more about the combination of Bharosa and Oracle, please visit Oracle.com/Bharosa.
We appreciate your continued support.
Oracle Identity Management & Security Products
The above is for informational purposes only and may not be incorporated into a contract.