IDnow acquires ARIADNEXT in an undisclosed deal

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SaaS News -German-identity-verifier-IDnow-acquires-France’s-ARIADNEXT-for-$59-million(source: SaaS Industry)
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ARIADNEXT, French remote identity verification, and digital identity creation company, has been bought by IDnow, a German identity verification startup. As a result of the acquisition, IDNow is now on a level with OnFido, Europe’s other major participant. IDnow will keep ARIADNEXT’s offices in Rennes, Paris, Madrid, Bucharest, Iasi, Warsaw, and its approximately 125 employees. 

IDnow, a German-based identity verification startup, has acquired ARIADNEXT, a French company focussing on remote identity verification and digital identity creation. The financial details of the deal were not disclosed, but according to TechCrunch sources, it was approx. $59 million. 

The merged company, according to IDnow, will be able to offer a complete identity verification platform, spanning from AI-driven to human-assisted technologies, as well as online and point-of-sale verification alternatives. IDnow’s services are available in the United Kingdom, France, Germany, Spain, Poland, Romania, and other foreign countries, and the company aims to triple revenue in 2021 compared to 2019.

As a result of the acquisition, IDNow is now on a level with OnFido, Europe’s other major participant. According to TechCrunch, the firm has generated more than €50 million in sales this year and intends to exceed its €100 million revenue target for 2023.

IDnow said that the pandemic has resulted in a 200 percent increase in the utilization of its products compared to the previous year, as businesses migrate to digital procedures.

“This combination with ARIADNEXT is an important step toward our vision of building the pan-European leader for identity verification-as-a-service solutions. With ARIADNEXT, in addition to our recent acquisition of identity Trust Management AG, IDnow can provide our customers with an even broader suite of products through a single platform with a seamless user experience.”

Andreas Bodczek, CEO of IDnow

“We are looking forward to joining a team of IDnow’s caliber, combining our experience and skills to work toward our shared vision of providing a pan-European secure and future-proof solution to customers.”

Guillaume Despagne, president of ARIADNEXT

ARIADNEXT’s sites in Rennes, Paris, Madrid, Bucharest, Iasi, and Warsaw and its approximately 125 staff will be retained by IDnow.

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