Signicat acquires Spanish video identity firm eID
Digital identity firm Signicat has acquired Spanish firm Electronic Identification (eID), a provider of asynchronous video identification services.
Asger Hattel, Signicat CEO
Signicat says the acquisition, for an undisclosed sum, strengthens its European presence and moves it towards being a “market leader”.
The two firms have worked together since 2017, with Signicat providing the eID solution through its platform.
Asger Hattel, Signicat CEO, says its “long” partnership with eID had convinced him the two firms would be a “perfect match”.
He adds: “Their unique services are a great compliment to our offering, and they bring with them a stronger foothold into the European market.”
The Spanish firm provides asynchronous video identification based on video-in streaming with “end-to-end” coverage of the identification process.
Launched in 2016, it claims to have more than 250 customers spread across 30 countries.
“Joining forces will enable us to achieve the rapid expansion we have been working on for the last eight years,” says Iván Nabalon, CEO of eID.
The firm is set to continue as an independent firm with a separate brand from Signicat. An integration is expected to occur and complete by the end of 2023.
The eID deal is Signicat’s second acquisition of 2021 after it bought up Nordic customer authentication firm Encap Security in June.
