“With the acquisition of Idfy, we strengthen our ability to execute faster and deliver better digital identity solutions to the market,”- Gunnar Nordseth, CEO, Signicat
Signicat, a Norway-based provider of digital identity management and e-signature solutions, has announced its acquisition of Idfy, a compatriot firm specializing in API-based solutions for online authentication. The acquisition entails Signicat’s purchase of 100 percent of Idfy’s shares, along with “a substantial reinvestment in the combined entity by active Idfy shareholders,” according to a statement announcing the acquisition.
“With the acquisition of Idfy, we strengthen our ability to execute faster and deliver better digital identity solutions to the market,” commented Signicat CEO Gunnar Nordseth, adding later, “Together we can continue in our goal of creating the strongest digital identity solution on the market.”
Signicat says that Idfy has a significant presence in the FinTech and real estate sectors, and that on its own it already had over 300 clients. Its acquisition of the firm comes soon after Signicat was itself acquired by Nordic Capital earlier this year, in a deal valued at EUR 4.3 billion. Terms of this latest acquisition have not been disclosed.
The news also arrives after Signicat’s integration of Verimi’s identity solution, which supports biometric mechanisms like Touch ID, into its Digital Identity Hub this past March. And it comes in the same week that Signicat is celebrating the milestone of one million digital identity transactions in a single day on its MobileID platform.
July 3, 2019 – by Alex Perala