Investment firm Volaris Group Inc. revealed today that it has acquired identity management solutions company Hitachi ID Systems Inc. for an undisclosed price and renamed the company Bravura Security.

Founded in 1992 and previously known as M-Tech Information Technology until Hitachi Ltd. acquired it in 2008, Hitachi ID offers an identity management, privileged access and password management platform in one solution. Pitched as giving users the tools and resources to manage risk and keep businesses protected, the company claims to be a reliable privileged access management provider for day-to-day operations.

Hitachi ID’s offering includes the ability to optimize internal controls, improve user service, lower operating costs and strengthen network security. One feature, the ability to facilitate new business, is said to allow companies to grow and generate new revenue with the benefits of better internal processes and security.

The company primarily caters to medium-sized  to large organizations with an aim to stand out for each client with “customer service, innovation, adaptability and pricing.” Notable customers include Ohio National Financial Services, Nestle S.A., DocuSign Inc., General Dynamics Corp., BlueCross BlueShield, Sybase and NCR Corp.

Volaris said that it had acquired what’s now Bravura Security for its mission-critical software, strong market position, experienced management team, in-depth industry knowledge and customer focus.

Volaris is a private equity firm that buys various companies with an official view to “providing them with the strategic guidance and financial security required to help them be leaders in their respective markets.”

“Bravura Security’s analyst-recognized market position combined with its more than 20 years of experience and global customer base made it an attractive investment for Volaris,” Carl Bruce, group leader at Volaris, said in a statement. “This acquisition positions us to strategically build out a broader cybersecurity portfolio and provides us a footprint in the growing identity and privileged access management market.”

Bravura Security will continue to be led by existing Hitachi ID Chief Executive Officer Nick Brown, with the support of existing management and key personnel.

The acquisition is approximately the 55th for Volaris, according to data from Traxcn. Recent Volaris acquisitions include information technology services management company Alemba, hospital bedside communications company Hospedia Ltd. and software solutions provider Advanced Management Systems Ltd.

Image: Hitachi ID