Socure, a company providing identity verification solutions based in Nevada, has recently acquired Berbix, an automated ID verification firm based in California, for approximately USD 70 million in a combination of cash and stock.
Berbix has developed a document verification solution that utilizes an innovative forensics engine and data extraction capabilities to detect counterfeit physical IDs that may successfully deceive human verification. This acquisition will greatly expedite Socure’s global expansion efforts.
Furthermore, Socure successfully integrated Berbix’s technology into its portfolio and launched version 3.0 of its Predictive Document Verification (DocV) product on Tuesday.
Read More: Socure Acquires ID Verification Company Berbix for $70 Million
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