Riding the consolidation wave that is sweeping the managed security services sector, SecurePay has acquired eSec's Internet payment gateway business.
In an all-cash transaction, SecurePay paid just under $1 million for eSec's business, acquiring its e-payment technology, the eSec Payments Gateway business name and eSec's 370-odd merchant customers.
As part of the agreement, SecurePay will continue to provide e-commerce services to eSec merchant customers via the SecurePay payments infrastructure.
Laurence Webb, CEO of SecurePay, said that the electronic payments specialist will be able to enhance its e-commerce services by drawing on the respective strengths of the two companies' technologies.
"The most significant technology we've gained through the acquisition is eSec's security authentication and control of transaction information," Webb said.
"SecurePay already had its own online credit card transaction capability. But our focus has been on back-end security -- how to prevent servers from being hacked during a payment transaction -- while eSec's focus has been on the security of the data transacted and trying to anticipate an attack on transactions."
Webb said that SecurePay will have finished integrating its back-end security and transaction security components into its e-commerce offering within the next couple of weeks.
The divestment of eSec's payment business is an important last step in the consolidation of the company, according to CEO Saxon Hill, and will allow the managed security provider to focus better on its core information security businesses.