The PKI business unit (Public Key Infrastructure) provides digital trust, identity, authentication, encryption, and certificate management solutions. The business unit includes PKI SaaS - Identrust and Hydrant ID - credential management, and Zero SSL.

"I find it very satisfying that with Vista, the PKI business unit and its employees and customers gain a committed long-term investor, creating new opportunities for the future and I wish them every success,” says Nico Delvaux, President and CEO of Assa Abloy.

“Our PKI team has built a strong business with a strong customer base, and Vista has the expertise to take it forward as the market evolves,” says Björn Lidefelt, EVP and Head of HID. “We are pleased with this outcome for our customers, our employees, and for HID.”

The business offers capabilities in public and private PKI issuance and management, self-service SSL certificates, and on-premise credential and smart card lifecycle management. HID believes Vista possesses the scale, expertise, and capital to be the ideal partner to bring the business forward.

"This leading PKI platform delivers trusted identity solutions that underpin how regulated and compliance-focused organisations operate in a digital-first world,” said Patrick Severson, Senior Managing Director and Co-Head of the Foundation Fund at Vista. “We are excited to build on that foundation, and we look forward to investing in the people, products, and deep customer and partner relationships that define this business.”

The divested business had sales in 2025 of MUSD 58 (approx. MSEK 570) with a strong operating margin.

The divestiture is subject to customary closing conditions, regulatory approvals and employee consultation and is expected to close during the fourth quarter of 2026.