Digital ID management software makers bought out by Veridos in Serbia, UST in Canada
Business uncertainty has digital ID players thinking broadly for financing. In this case, it is through buyouts.
Similarly, executives with Prodigy Labs have chosen to accept a buyout offer from UST.
NetSeT, based in Serbia, caught Veridos’ attention 20 years ago working on projects together. The company’s software recognizes the complex nature of managing citizen data.
Veridos gets a fuller product line out of the deal.
Meanwhile, UST, a product and services developer for businesses, has bought Prodigy Labs, based in Canada. Prodigy (also known as TCB Corp.) is a similar fix-it company, but with more of a focus on financial services and digital ID.
In announcing the purchase, UST said the buyout will be worth up to CA$12.5 million, or US$9.37 million.