IDnow, a German-based leader in identity verification-as-a-service solutions, today announced that it has agreed to acquire ARIADNEXT, a French company specializing in remote identity verification and digital identity creation.
With IDnow and ARIADNEXT joining forces, the companies can provide one comprehensive identity verification platform, ranging from AI driven to human-assisted technology and from online to point-of-sale verification options. The combination further increases the services IDnow offers to the UK, French and German markets, as well as to international customers with identity verification needs across several jurisdictions and use cases.
On the back of strong adoption of digital identity products, IDnow expects to increase revenue 3x in 2021 versus 2019 and is on track to continue accelerating this growth momentum.
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Since the beginning of the pandemic, IDnow has seen an extraordinary increase in demand for their solutions. IDnow’s products have been used 200% more compared to last year and many companies have decided to switch to fully digital application processes. The integration of ARIADNEXT, whose service usage has increased more than 130% per year over the last 5 years, will help to meet this rising demand by providing an outstanding, frictionless user experience.
“This combination with ARIADNEXT is an important step towards our vision of building the pan-European leader for identity verification-as-a-service solutions,” said Andreas Bodczek, CEO of IDnow. “Identity verification saw a major turn towards digitalization over the past decade and this trend has been further accelerated by the pandemic. It is now critical for banks, insurers, mobility companies and others to shift towards safe, automated 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.”
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“We are looking forward to joining a team of IDnow’s caliber, combining our experience and skills to work towards our shared vison of providing a pan-European secure and future-proof solution to customers,” said Guillaume Despagne, President of ARIADNEXT. “With a strong presence in Germany, France, the United Kingdom, Spain, Poland and Romania, our combined product portfolios create an unmatched platform for customers across the European market.”
IDnow will retain ARIADNEXT’s locations in Rennes, Paris, Madrid, Bucharest, Iasi and Warsaw, as well as its over 125 employees. The acquisition is subject to regulatory approvals.
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