InfoCert, which claims to the biggest European Certification Authority, has acquired 16.7% of Germany-based digital identity platform Authada.
Authada offers a digital identification verification solution, which can help people verify themselves within minutes.
The company’s services are currently available in the financial, telecommunication and sport industries, and is looking to enter the insurance, e-commerce and healthcare spaces.
This agreement is part of a strategic collaboration between the two companies which will see the localisation of InfoCert’s digital enterprise solutions for the German market. It will also see the integration of Authada’s electronic identification solution.
As part of the deal, an advisory board will be created made of representatives from Authada, FinLab, and InfoCert. Furthermore, InfoCert has been given the option to take 100% control of Authada following the approval of 2021 and 2022 results.
Infocert CEO Danilo Cattaneo said, “The operation signed today will also allow us to offer, anywhere in the 20 countries where we are present, a wider set of innovative technological capabilities that will further enhance digital service security for citizens, companies and institutions.
“This transaction with Authada allows us to advance the creation of a European Champion of Digital Trust Services, to manage sensitive data of citizens, companies and institutions in full compliance with European regulations.”
InfoCert offers a range of solutions including digital signatures and time stamps, electronic invoicing, digital identity and more.
Copyright © 2020 FinTech Global