- Signicat, a European provider of digital identity solutions, has acquired SmartWorks, its counterpart in Iceland. The financial terms of the acquisition have not been disclosed.
- SmartWorks, Iceland’s largest provider of digital identity and fraud prevention solutions, joins Signicat’s portfolio of acquisitions made since the arrival of private equity firm Nordic Capital in 2019.
- Signicat’s previous acquisitions include Connectis in the Benelux region, Encap Security in Norway, Electronic Identification (eID) in Spain, Sphonic in the UK, and Dokobit in the Baltics.
- SmartWorks, founded in Reykjavik in 2016, has notable clients such as Íslandsbanki, Brimborg, and the City of Reykjavik.
- Asger Hattel, CEO of Signicat, expresses enthusiasm about the acquisition, highlighting the opportunity to expand Signicat’s brand in Iceland and introduce its other products to the market.
- Olafur Pall Einarsson, SmartWorks’ founder, has been appointed as the country manager for Iceland within Signicat.
- Signicat, founded in 2006 and headquartered in Trondheim, Norway, now employs over 450 people across 17 European offices and serves over 13,000 customers in 44 countries.
- The company provides digital identity solutions and services to financial and payment institutions, insurance companies, mobility providers, and governmental organizations.
