San Diego, California - Comodo has sold its Certificate Authority business. California-based Francisco Partners, a private equity firm, made the decision to acquire Comodo’s CA because of the current conditions in the SSL marketplace.
Specifically, given the incoming mandate that all websites encrypt, and some of the maneuverings of Comodo’s CA competitors, Francisco Partners felt there was ample opportunity to expand Comodo’s business.
The new Comodo CA will be a standalone company that retains its Comodo branding at the outset. While the new leadership is open to changing the branding down the road, early on Comodo’s established brand power will be what carries the CA.
Comodo already enjoys the largest market share in the SSL industry but trails Symantec in high-value certificate sales. With an influx of new consumers about to enter the marketplace as a result of browser initiatives that require SSL, Comodo is following suit with Symantec’s CA by adding financial backing from a private equity firm.
“We have to restore confidence in this space and my goal is to promote Comodo as the place to go for SSL certificates and as a safe stable vendor that has been around for a long time,” Bill Holtz, the new CEO told eWeek.