Key Surety Inc.

From Perplex City Wiki
(Redirected from Key Surety Inc)
Jump to: navigation, search

General

  • Designer and manufacturer of Keys.
  • Has a strong reputation for innovation and reliability in an increasingly important marketplace.
  • High-end competitor of Centrifuge Inc.
  • In March 2005, was purchased by Centrifuge for PCL2.3 billion in cash and stock.
  • Key Surety had been significantly weakened by a decades-long court battle over interoperability standards
  • It had desperately needed an infusion of fresh capital to stay solvent. (Centrifuge CEO Halima Bourne said, "It came down to this: they really needed our money, and we really needed their R&D team.")
  • Under the terms of the agreement, Key Surety will remain as an independent but wholly-owned subsidiary of Centrifuge for one year.
  • After that transition period, senior management from both companies will go to the table to find the best way to integrate.
  • No significant job cuts are expected until close to that anniversary mark.
  • In late August 2005, KSI was awarded a contract with Perplex City, for PCL 18M, to revisit and revamp all existing securities systems.



Employees


References

  • Perplex City Sentinel