Los Angeles-based identity management specialist Acuant has acquired AssureTec Technologies.
This acquisition will foment a comprehensive data capture-to-authentication solution, the companies said, which addresses mobile, cloud-based ID capture, facial recognition and document authentication. To make that happen, Acuant will integrate AssureTec’s intellectual property, capture and authentication patents.
As a result of the deal, Acuant also will add end users in both government and commercial markets including healthcare, finance, border security, retail and regulatory compliance. The company also has a significant channel partner network around the world with customers in more than 100 countries as well as the industry’s largest document library. The integration of both companies results in twenty years of combined operating experience, from desktop and to the cloud.
“The addition of AssureTec Technologies adds scale, breadth, depth and capabilities that drive growth, profitability and innovation,” said Yossi Zekri, Acuant CEO. “This acquisition accelerates our mission to become the world’s most trusted source of credential proofing solutions, providing document authentication and mobile workflow automation for transaction dependent stakeholders. We are excited to integrate AssureTec to strengthen our global product offering with greater ability to scale the business and provide the market with proven and reliable solutions in digital verification.”
“AssureTec has found the right partner in Acuant to significantly expand our leadership position in credential authentication and enhanced data capture,” said Steve Maloney, AssureTec CEO, who will become executive vice president for business development and strategy at Acuant. “We look forward to providing our clients with the industry’s most comprehensive identity management and verification solution, and our employees with a wonderful opportunity for professional growth.”
Notably, this transaction comes as rival Jumio, the Palo Alto-based ID verification company, is being sold to private equity firm Centana, following bankruptcy proceedings.