Nordic digital identify firm Signicat is continuing its acqusition spree, acquiring Baltic e-signature outfit Dokobit.
The deal for Dokobit is Signicat's third acquisition in as many months, folllowing last month's agreement to buy Spanish ElectronicIdentification (eID) and June's takeover of Strong Customer Authentication specialist Encap Szecurity.
Like Signicat, Lithuania-based Dokobit is one of the few Qualified Trust Service Providers (QTSP) on the EU Trust List, ensuring strict assurance for validation of electronic signatures. The deal expands Signicat's market reach into the Baltic countries, providing business clients with broader cross-border market coverage.
Asger Hattel, CEO, Signicat, says: "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."
Headquartered in Norway, Signicat was founded in 2007 and acquired by European private equity investor Nordic Capital in 2019. Identified as one of the fastest growing companies in Europe by the Financial Times, the firm almost doubled revenues from €24 million in 2019 to €42 million last year.
The value of the Dokobit transaction was not disclosed.