Skip to main content
https://www.highperformancecpmgate.com/rgeesizw1?key=a9d7b2ab045c91688419e8e18a006621

German identity verifier IDnow acquires France’s ARIADNEXT for $59 million, hits M&A road

IDnow, a German-based identity verification startup is acquiring ARIADNEXT, a French equivalent, specializing in remote identity verification and digital identity creation. A price was not released by either party but TechCrunch understands from sources that the deal was approximately $59 million / €50 million. Sources say IDnow is looking to do similar acquisitions.

IDnow says the combined entity will be able to provide a comprehensive identity verification platform, ranging from AI-driven to human-assisted technology and from online to point-of-sale verification options. IDnow offers its services into the UK, French and German, Spain, Poland, Romania, and other international markets, and says it expects to increase revenue 3x in 2021 versus 2019.

The startup also says the pandemic has meant usage of its products has gone up 200% more compared to last year as companies switch to digital processes.

Andreas Bodczek, CEO of IDnow said in a statement: “This combination with ARIADNEXT is an important step towards our vision of building the pan-European leader for identity verification-as-a-service solutions. With ARIADNEXT, in addition to our recent acquisition of identity Trust Management AG, IDnow can provide our customers with an even broader suite of products through a single platform with a seamless user experience.”

Guillaume Despagne, President of ARIADNEXT, said: “We are looking forward to joining a team of IDnow’s caliber, combining our experience and skills to work towards our shared vision of providing a pan-European secure and future-proof solution to customers.

IDnow will retain ARIADNEXT’s locations in Rennes, Paris, Madrid, Bucharest, Iasi, and Warsaw, as well as its over 125 employees. The acquisition is subject to regulatory approvals.

The acquisition means IDNow is now on a par with the other large player in Europe, OnFido. TechCrunch understands the company has done €50m+ revenue this year expect to over-perform its €100m revenue target for 2023.

Comments

Post a Comment

Popular posts from this blog

Uber co-founder Garrett Camp steps back from board director role

Uber co-founder Garrett Camp is relinquishing his role as a board director and switching to board observer — where he says he’ll focus on product strategy for the ride hailing giant. Camp made the announcement in a short Medium post in which he writes of his decade at Uber: “I’ve learned a lot, and realized that I’m most helpful when focused on product strategy & design, and this is where I’d like to focus going forward.” “I will continue to work with Dara [Khosrowshahi, Uber CEO] and the product and technology leadership teams to brainstorm new ideas, iterate on plans and designs, and continue to innovate at scale,” he adds. “We have a strong and diverse team in place, and I’m confident everyone will navigate well during these turbulent times.” The Canadian billionaire entrepreneur signs off by saying he’s looking forward to helping Uber “brainstorm the next big idea”. Camp hasn’t been short of ideas over his career in tech. He’s the co-founder of the web 2.0 recommendatio...
Post a Comment
Read more

Drone crash near kids leads Swiss Post and Matternet to suspend autonomous deliveries

A serious crash by a delivery drone in Switzerland have grounded the fleet and put a partnership on ice. Within a stone’s throw of a school, the incident raised grim possibilities for the possibilities of catastrophic failure of payload-bearing autonomous aerial vehicles. The drones were operated by Matternet as part of a partnership with the Swiss Post (i.e. the postal service), which was using the craft to dispatch lab samples from one medical center for priority cases. As far as potential applications of drone delivery, it’s a home run — but twice now the craft have crashed, first with a soft landing and the second time a very hard one. The first incident, in January, was the result of a GPS hardware error; the drone entered a planned failback state and deployed its emergency parachute, falling slowly to the ground. Measures were taken to improve the GPS systems. The second failure in May, however, led to the drone attempting to deploy its parachute again, only to sever the line...
Post a Comment
Read more

How the world’s largest cannabis dispensary avoids social media restrictions

Planet 13 is the world’s largest cannabis dispensary. Located in Las Vegas, blocks off the Strip, the facility is the size of a small Walmart. By design, it’s hard to miss. Planet 13 is upending the dispensary model. It’s big, loud and visitors are encouraged to photograph everything. As part of the cannabis industry, Planet 13 is heavily restricted on the type of content it can publish on Instagram, Facebook and other social media platforms. It’s not allowed to post pictures of buds or vapes on some sites. It can’t talk about pricing or product selection on others.   View this post on Instagram   A post shared by Morgan Celeste SF Blogger (@bayareabeautyblogger) on Jan 25, 2020 at 7:54pm PST Instead, Planet 13 encourages its thousands of visitors to take photos and videos. Starting with the entrance, the facility is full of surprises tailored for the ‘gram. As a business, Planet 13’s social media content is heavily restricted a...
3 comments
Read more