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Entrust buying Onfido: reports

Entrust buying Onfido: reports
 

Biometric identity verification firm Onfido is being acquired by Entrust at a value “well above” $400M, according to TechCrunch . Reuters says the company could be valued around $650M.

TechCrunch reports the news has been confirmed although no completion date has been announced as the deal needs to go through regulatory approvals. “As we bring Onfido together with Entrust, we’re going to have a leadership position pretty much across that identity lifecycle,” says Entrust CEO and president Todd Wilkinson.

“We’re excited to be entering into early and exclusive discussions with Entrust to potentially expand access to the most advanced and secure digital identity verification solutions worldwide,” adds Mike Tuchen, Onfido’s CEO, in a statement.

Biometric Update editor Chris Burt interviewed Tuchen in September about rebalancing the company and growing in its core markets.

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