Norwegian company Signicat has acquired Connectis, a verification specialist, paving its way to becoming a major player in digital identity in Europe.
Announced on Thursday, both the companies will now operate as a single entity.
Signicat has a prominent presence in Scandinavia and, following this deal, will tap into Connectis’ two primary markets – the Netherlands and Belgium.
“The adoption of digital identity in the Netherlands and Belgium has been impressive, and we are very pleased with now expanding our operations in the region,” Asger Hattel, CEO of Signicat, said.
“With Connectis joining Signicat, we are not only expanding our reach and customer base, we are creating Europe’s strongest digital identity platform. We are really looking forward to working together and to offer existing and new customers an even stronger digital identity offering.”
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Digital identity sector is booming
Headquartered in the Netherlands, Connectis was founded in 2008, offering digital identity services across the country. The primary client base of the company comes from sectors ranging from the public sector, health care, insurance, and financial services.
As detailed by the announcement, the combined entity will focus on helping organizations looking to streamline online business while reducing risk and meeting a range of regulations such as KYC and AML.
Though the financial details of the deal were not revealed, the press release revealed that SIDN and 2050 Foundation, the former owners of Connectis, will now invest in the combined entity.
“It’s time for Connectis to take the next step, towards a prominent role on the European market.” Jeroen de Bruijn, CEO at Connectis, added. “By joining forces with Signicat, we really have the expertise, scale and competence to be a European market leader. We are looking forward to jointly serving customers a market-leading offering and driving innovation in the market.”