Hitachi buys Canadian ID management software firm

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Hitachi Ltd said Tuesday it has acquired a majority stake in M-Tech Information Technology Inc, a Canadian identity management software company. With the acquisition, Hitachi aims to win a top share in a market led by Sun Microsystems Inc, International Business Machines Corp. and Oracle Corp.

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Due to stricter requirement for privacy protection and corporate compliance, companies across the globe are striving to beef up identity management.

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Identity management is a very promising field as its market has grown at an annual pace of 20%, said Mitsuo Yamaguchi, Hitachi vice president and executive officer, said in an interview.

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The identity management market is expected to surge to $12.3 billion in 2014 from $2.6 billion in 2006, research firm Forrester Research says.

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