Norwegian digital identity company Signicat has acquired Dokobit, a Lithuanian electronic authentication solutions provider with a presence in Estonia, Latvia and Iceland, for an undisclosed sum.
This marks the third acquisition by Signicat following that of Encap Security, a Norwegian mobile authentication and security solution provider, and Spain’s Electronic IDentification (eID).
Like Signicat, Dokobit is reportedly a Qualified Trust Service Providers (QTSP) on the EU Trust List, ensuring the strictest of assurance for validation of electronic signatures.
This acquisition further strengthens Signicat’s product portfolio and expands their market reach into the Baltic countries, helping propel it into Eastern European markets.
“Together, Dokobit and Signicat share a strong cultural, commercial and technological fit. With Dokobit, we will gain access to a fast-growing and exciting part of the European e-signature market which has been largely untapped, in addition to getting exceptional talent and technology.
For us this is one more important step to continuously develop our customer value propositions across Europe,”
said Asger Hattel, CEO of Signicat.
“Our goal has always been to conquer Europe, and together with Signicat we will be able to do so much faster.
By using Signicat’s accumulated electronic identity tools, we will be able to focus our efforts on innovation and development of e-signing solutions”,
says Gintas Balčiūnas, CEO at Dokobit.
Featured image: Edited from Unsplash
