Norwegian electronic identity service provider “Signicat” has acquired the company “Dokobit”, which provides e-subscription service, informs the representatives of the companies.
–
–
Content will continue after the ad
Advertising
–
This transaction will strengthen the position of both companies in the markets of the Baltic and Scandinavian countries and will allow them to achieve leading positions elsewhere in Europe.
“In order to remain competitive in the fast-growing e-signature market in Europe, it is very important to act quickly. Even with all the necessary knowledge and resources, time to market is still one of the most important factors that can affect a company’s future success. Our goal has always been to conquer “With Signicat, we will be able to do this much faster. With Signicat’s wide range of electronic identity (eID) tools, we will be able to focus on developing innovative e-subscription solutions,” says Gintas Balčiūnas, CEO of Dokobit.
According to the Financial Times, Signicat is one of the fastest growing companies in Europe. Its revenue increased from 24 million euros in 2019 to 42 million euros in 2020. Like Dokobit, Signicat is one of the few qualified trust service providers in the European Union (EU) Register of Trusted Service Providers. This year, Signicat has acquired two other companies, the Norwegian Encap Security and the Spanish company ElectronicIDentity, the world’s leading provider of asynchronous image recognition services. Thus, Signicat strengthens its leading position in Europe in the field of RegTech or technological solutions for financial institutions.
The beneficiaries of this purchase transaction are both companies, which will be able to expand both geographically and provide customers with the opportunity to receive several services from one company. Signicat is strong in eID-related solutions, while Dokobit’s strength is its electronic subscription services. Customers will have access to a full range of eIDAS services – from eID issuance to electronic subscription. The company will be able to ensure the monitoring of the electronic document throughout its life cycle. It will also be possible to make cross-border electronic document signing services available even in countries where this was not previously possible for technological reasons.
“Dokobit and Signicat have very similar cultural, business and technological values. With Dokobit, we will gain access to a fast-growing European e-signature market and also a talented team. Together, we can achieve the goal of becoming the only digital identity service the provider that businesses need to ensure secure access to services for customers in Europe, “says Asger Hattel, Signicat’s CEO.
Dokobit will continue to provide electronic subscription services under its own brand.
The transaction amount is not disclosed. Legal advice in the transaction was provided by the companies “Ellex”, “Gravel“un”Wikborg Rein”.
–
–
