In its second-largest acquisition, Amazon buys the company for $970 million.
Scott Olson has more than twenty years leading marketing and product strategy at technology organizations, concentrating on Internet security.
PORTLAND, Ore. – November 6, 2012 – iovation, the Device Reputation Authority™ protecting online businesses from fraud and abuse, today announced the expansion of its executive team with the appointment of Scott Olson as its Vice President of Product. Olson served as iovation’s Vice President of Marketing from 2007 to 2009.
“With iovation seeing its best bookings year ever and increasing momentum with the world’s top financial organizations, it’s an exciting time of expansion to rejoin the company,” said Olson. “iovation’s device reputation platform has grown to a point where we can offer uniquely differentiated service offerings that fight fraud, protect the evolving mobile landscape and streamline business’ interactions with their good customers. I’m thrilled to be able to lead efforts to expand the value iovation delivers through its services.”
Scott Olson has more than twenty years leading marketing and product strategy at technology organizations, concentrating on Internet security. He has founded three companies and served as Vice President of Marketing at three others. These companies have been successfully acquired by the likes of Cisco Systems, Inc., Symantec Corp. and Trustwave. One of the businesses Olson co-founded, WheelGroup Corporation, produced the first commercially viable Intrusion Detection System (IDS) and was subsequently acquired by Cisco.
“Scott has a proven track record of not only developing pioneering products but also identifying and nurturing the marketplace for that technology,” said Greg Pierson, iovation’s CEO and co-founder. “Scott did an amazing job in iovation’s early days. We are looking forward to having him lead our product strategy efforts to fully capitalize on our expanding market opportunity, and in helping us make the Internet a safer place to interact and conduct business.”
iovation protects online businesses and their end users against fraud and abuse through an industry-leading combination of advanced device identification, shared device reputation and real-time risk evaluation. More than 2,000 fraud managers around the globe leverage iovation’s database of Internet devices and relationships between them to determine the level of risk associated with any type of online transaction. Retail, financial services, social network, gaming and other companies make real-time queries to iovation’s knowledge base of more than one billion devices from every country in the world. Clients also leverage iovation's Fraud Force Community, an exclusive virtual crime-fighting network of the world's foremost security experts sharing intelligence about cybercrime prevention, device identification and more. Every day, iovation stops over 150,000 fraud attempts. For more information, visit www.iovation.com.