Digital ID investments are active; Blackrock boosts allocation in OneSpan

In a daisy-chain of corporate finance, the world’s biggest asset manager, Blackrock, has increased its ownership of digital agreements security firm OneSpan.

Almost simultaneously, OneSpan says it is buying an Australian storage-and-vaulting startup named ProvenDB. The deal is expected to close by April. No terms have been made public.

Blackrock‘s $3 trillion portfolio’s biggest holding is Apple, but the firm’s portfolio includes many of the United States’ most successful companies involved with biometrics, according to figures compiled by finance industry data company Fintel.

Blackrock increased its portfolio allocation in OneSpan from 14.4 percent, or 5.7 million shares, to 16.4 percent, or 6.5 million shares. Shares in OneSpan opened trading on January 27 at $14.09.

OneSpan secures transactions with biometrics, detects fraud and automates agreements.

Not all of OneSpan’s top investors are on the same page, according to Fintel.

Legion Partners Asset Management increased its allocation in OneSpan by 13 percent over the last quarter. Altai Capital Management also increased its allocation, by four percent.

Those decreasing their portfolio allocation in OneSpan included Legal & General Group, which cut back by 41 percent over the last quarter. Neuberger Berman Group moved its allocation down 19 percent, and Ancora Advisors cut back by 68 percent.

Meanwhile, Chicago-based OneSpan described ProvenDB as being “at the forefront of developing secure storage, leveraging blockchains” to prevent data tampering.

Using ProvenDB creates digital signatures that are entered on a public blockchain. The pitch to buyers is that the company can “provide proof of the integrity, ownership and creation date of critical information.

Article Topics

acquisitions  |  biometrics  |  Blackrock  |  digital identity  |  investment  |  OneSpan  |  stocks