ARM has announced it will join two security firms in a joint venture to create a common security standard for mobile connected devices including smartphones, tablets, games consoles and smart TVs.
Gemalto and Giesecke & Devrient (G&D), two security solutions providers based in the Netherlands and Germany respectively, will collaborate with ARM, the famous British chip designer, in contributing software, patents, cash and people to the project.
“Devices with a TEE will provide consumers with more secure, user-friendly experiences that simplify and speed up how they interact with their digital world,” ARM said. “This will enable them to use their smart, connected devices more frequently to access an increasing range of applications and services in a secure way. This includes mobile payment, enterprise productivity and mobile banking applications, as well as online commerce and premium content services.”
Though the venture awaits regulatory approval, ARM and other the parties involved are hoping the security standard will be picked up quickly throughout the industry to ensure consumers can conduct transactions easily and securely regardless of the device they are using.
“The integration of the hardware, software and services necessary for system-wide security has been slow,” ARM’s CEO Warren East said in a statement. “I am confident that this new joint venture will accelerate the adoption of a common security standard, enabling a vibrant ecosystem of secure service providers to emerge.”
“The new venture will combine the security operations from three leading organisations,” said Ben Cade, CEO of the joint venture. “This will provide a trusted software environment capable of utilising security from the hardware level up, in a consistent, open and accessible manner. This will pave the way for service providers to innovate advanced, trusted services that will enhance user experiences whilst also reducing risks and improving privacy.”
ARM will own a 40 percent stake of the venture, with Gemalto and G&D owning 30 percent each.
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