Entrust, identified for its trusted fee and knowledge safety options, has finalised its acquisition of identification verification firm Onfido.
This announcement comes simply two months after the negotiations got here to gentle the place TechCrunch reported that the deal could possibly be price “effectively above US$400 million” though this was not confirmed.
This merger brings collectively Entrust’s safety options with Onfido’s superior identification verification expertise, aiming to handle the rising threats of identification fraud and knowledge breaches.
Established in 2012, Onfido registered over US$140 million in annual income, employed greater than 500 employees, and served over 1,200 shoppers worldwide, together with main names in finance, e-commerce, and the sharing financial system.
By incorporating Onfido’s expertise, Entrust goals to boost its safety choices, offering companies with a sturdy, identity-centric safety framework.
This consists of a mixture of biometric, AI, and no-code orchestration capabilities, all designed to automate and fortify in opposition to fraudulent actions.
The acquisition is poised to profit sectors corresponding to monetary companies and identification entry administration by providing quicker and safer digital onboarding processes, decreasing fraud publicity, and guaranteeing compliance with international requirements.
Todd Wilkinson
“With the acquisition of Onfido, our clients can leverage global-leading identification verification expertise to fulfill the brand new challenges of cybersecurity within the age of AI. Id-centric safety is the place to begin for Zero Belief frameworks and ensures an organization’s cyber protection is finest positioned to fulfill at present’s threats.
Entrust now gives the broadest identity-centric safety capabilities available in the market which mix with robust encryption applied sciences to allow the evolution to Zero Belief.”
stated Todd Wilkinson, President and Chief Government Officer, Entrust.
