FB pixel

FacePhi acquires Ecertic for gains in biometric identification and authentication market

 

Spanish biometrics company FacePhi reports it has acquired Ecertic for €2 million (USD$2.20 million) which will be paid with €1.16 million ($1.28 million) in cash and 164,706 FacePhi shares.

Spain-based Ecertic is a certification service provider compliant with the European EIDAS regulation. The company boasts some €700,000 ($773,000) in turnover for 2019.

Using technologies including facial biometrics, machine learning, image analysis, automated management, and blockchain, Ecertic develops automatic documentary analysis technology for customer identification processes. By including it in its business operations, FacePhi can deliver increased capabilities and added-value for its customers. FacePhi will also be adding Ecertic’s technical and business teams to its current working force, which will overall help grow its presence in the digital onboarding sector.

“The integration of Ecertic will be an important step in our product strategy, that will allow us to improve our SelphID margins and gain presence in the identification and authentication market,” said FacePhi’s CEO, Javier Mira. “This operation is a safe bet, since it provides a qualitative leap forward in important aspects, such as regulatory, technical and business development aspects and, above all, in the consolidation of the business offer, since the products available to Ecertic complement the company’s own offer, and this is an essential value to address the European market, this being one of the most important objectives in the coming years.”

“With this operation, we provide a solid and consolidated technological development to a company like FacePhi, whose market positioning is able to take the technology to the next level, to continue creating value,” said Raúl Tapias, Ecertic CEO.

The acquisition was announced this week after FacePhi revealed a 2019 growth of 82.88 percent compared to 2018, reaching a net turnover of more than 8.2 million euros, according to non-audited results presented during an event at Palacio de la Bolsa in Madrid.

Javier Mira named 2019 “the best year regarding the number of contracts, authentications –exceeding 850 million–, users and onboardings.”

Article Topics

 |   |   |   |   |   |   | 

Latest Biometrics News

 

ACCS announces participants in Australia’s Age Assurance Technology Trial

In keeping with its philosophy of transparency by default in running Australia’s Age Assurance Technology Trial, the Age Check Certification…

 

DPI-as-a-Packaged Solution marks major milestone with Trinidad and Tobago rollout

The first ever implementation of DaaS — DPI-as-a-Packaged Solution — is going live in Trinidad and Tobago in a test…

 

AI agents spark musings on identity, payments and wallets

AI agents continue to attract attention, including in the digital identity industry, which sees an opportunity for innovation. Their importance…

 

Trump deregulation is re-shaping the future of biometric surveillance in policing

The advent of AI has exponentially increased the capabilities of biometric tools such as facial recognition, fingerprint analysis, and voice…

 

World expands Android support for World ID credentials

World’s positive relationship with Malaysia continues, with the launch of Android support for World ID Credentials in the country, following…

 

Sri Lanka national data exchange to connect digital ID and public services

A fully developed foundational ID system, including citizen registration, may take 18 to 24 months for Sri Lanka to implement,…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Viewed This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events