The combined entity will accelerate Signicat’s share of the identity verification market—worth $15 billion by 2024
Signicat, the Trusted Digital Identity™ company, has acquired digital identity specialist Connectis, to create the strongest digital identity platform in the European market.
Connectis was founded in 2008 and is headquartered in Rotterdam with an office in Bucharest, Romania. Connectis primarily delivers digital identity solutions to customers in the Netherlands, particularly organisations in the public sector, health care, insurance and financial services. The company has 52 employees in total.
Connectis develops secure solutions for online identification, authentication and authorisation for more than 350 organisations to identify over 14 million customers. Its products include:
- Connectis Identity Broker: With connections to multiple electronic identities, such as eHerkenning, iDIN, DigiD, and more.
- Connectis Identity & Access Management (CIAM): A comprehensive, yet fast and user-friendly CIAM solution.
- We-ID eRecognition tokens (eID): A standardised login system supplied as certified supplier in a public-private partnership with the Dutch Ministry of the Interior and Kingdom Relations.
As society continues to move online and interactions between consumers, businesses and institutions are becoming predominantly digital and increasingly mobile-first, trust is at a premium. Reducing fraud, and meeting regulatory requirements around digital identification, verification and recurring authentication ensures transactions can proceed with a stronger degree of trust. The identity verification market alone is set to be worth $15 billion by 2024 (Goode Intelligence, 2019).
Signicat’s and Connectis’ combined expertise forms a strong collaboration from which to continue to drive and shape the digital identity industry in Europe. Signicat’s heritage in the Nordics and Connectis’ footprint in Benelux, particularly in the government and healthcare sector, will be instrumental in developing solutions that tackle some of the most complex digital identity challenges. The combined entity will focus on helping organisations looking to streamline online business while reducing risk and meeting a range of regulations such as KYC and AML. The combined offering now represents the most comprehensive digital identity solution on the market.
“The adoption of digital identity in the Netherlands and Belgium has been impressive, and we are very pleased with now expanding our operations in the region,” states Asger Hattel, CEO of Signicat. “With Connectis joining Signicat, we are not only expanding our reach and customer base, we are creating Europe’s strongest digital identity platform. We are really looking forward to working together and to offer existing and new customers an even stronger digital identity offering.”
“It’s time for Connectis to take the next step, towards a prominent role on the European market.” said Jeroen de Bruijn, CEO, Connectis. “By joining forces with Signicat, we really have the expertise, scale and competence to be a European market leader. We are looking forward to jointly serving customers a market-leading offering and driving innovation in the market.”
“Nordic Capital acquired Signicat a year ago with the ambition to support and accelerate its international expansion and strengthen its position as a leading digital identity platform. This acquisition is an important step to deliver even better digital identity solutions to the market, and Nordic Capital is enthusiastic about supporting Signicat’s continued growth journey in Europe,” said Fredrik Näslund, Partner, Nordic Capital Advisors.
Connectis’ previous owners, SIDN and 2050 Foundation, have reinvested in the combined entity, providing a further endorsement in Signicat’s future.