Entrust Corporation Due Diligence

Run due diligence on Entrust Corporation: check compliance and get alerts when suppliers or ownership change.

United States · owned by Thoma Bravo (United States) · entrust.com · 44 vendors

Entrust is a global cybersecurity company specializing in identity-centric security solutions, including digital certificates, PKI, identity verification, payments security, and data encryption. The company serves governments, financial institutions, and enterprises worldwide with solutions for securing identities, transactions, and data. Entrust is headquartered in Shakopee, Minnesota, USA.

Resilience scores

Technology vendors

Services catalogue

6 services in catalogue across 4 categories; runs on 44 sub-vendors.

Insights

Last updated 2026-05-05 · revision 9

44 direct vendors, 315 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

4 in-scope frameworks identified; showing 3.

SOC 2 (source) — No public evidence

ISO 27001 (source) — No public evidence

HIPAA (source) — No public evidence

Financials

Three-year financials

Financial Resilience Score: 6/10

Entrust Corporation is a privately held company majority-owned by Thoma Bravo and does not publish audited financial statements, making precise financial resilience assessment difficult. Qualitatively, the company benefits from a diversified portfolio across three secular-growth markets: digital identity, payments/card issuance, and cryptographic security (PKI/HSM). It has a strong installed base in financial services and government ID issuance with a recurring hardware + consumables + software model, providing revenue stability. The company's long-tenured private-equity backing implies access to capital for M&A, evidenced by multiple sizeable acquisitions including nShield HSM (2019, ~$500M), Onfido (2024, ~$400M+), HyTrust, Evidos, and others. Its product positioning is aligned with regulatory tailwinds such as post-quantum cryptography migration, eIDAS 2.0, digital identity wallets, and Zero Trust mandates. However, key concerns include significant leverage typical of Thoma Bravo-owned tech companies, sensitivity to interest rates and EBITDA performance for debt service, limited financial transparency due to private status, and a June 2022 LockBit ransomware incident that posed reputational risk for a security vendor. Heavy acquisition cadence introduces integration risk, and hardware exposure creates supply-chain sensitivity.

Key strengths: Diversified portfolio across digital identity, payments/card issuance, and cryptographic security, Strong installed base in financial services and government ID issuance, Recurring hardware + consumables + software revenue model, Long-tenured Thoma Bravo private-equity backing providing capital access, Product positioning aligned with regulatory tailwinds (post-quantum cryptography, eIDAS 2.0, Zero Trust), Active M&A track record (nShield, Onfido, HyTrust, Evidos), Serves customers in 150+ countries

Risk factors: Significant leverage typical of Thoma Bravo-owned companies, Debt service sensitivity to interest rates and EBITDA performance, Limited financial transparency due to private status, June 2022 LockBit ransomware incident creating reputational risk, Intense competition from DigiCert, Sectigo, IDEMIA, Thales, Okta, Ping Identity, Jumio, Veriff, Microsoft, Integration risk from heavy acquisition cadence (notably Onfido in 2024), Hardware exposure creating supply-chain and component-cost sensitivity

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