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Entrust completes Onfido acquisition, Vision-Box and Amadeus close deal

Combined price tags could approach $1B
Categories Biometrics News  |  Trade Notes
Entrust completes Onfido acquisition, Vision-Box and Amadeus close deal
 

Months after an initial agreement, it’s finally confirmed that the authentication company Entrust has acquired the selfie biometrics provider Onfido. Amadeus’ acquisition of Vision-Box, likewise, has met with final regulatory approval.

Onfido’s owners agreed to sell to Entrust at a reported price tag of over $400 million, and as much as $650 million in February. Vision-Box drew a sale price of €320 million (roughly US$347.5 million) for its January agreement with Amadeus.

Onfido says its offerings have prevented $6 billion in potential fraud. The company reported a 3,000 percent increase in deepfakes and a five-times increase in forged identities over the past year.

Before the acquisition, the company had over $140 million in annual revenue and over 500 employees with over 1,200 customers globally. Onfido’s identity verification will be used across Entrust’s portfolio, giving additional security for its financial services onboarding and identity access management.

“This acquisition comes at an inflection point in the industry,” said Todd Wilkinson, president and CEO of Entrust. “With the acquisition of Onfido, our customers can leverage global-leading identity verification technology to meet the new challenges of cybersecurity in the age of AI.”

Vision-Box Founder and CEO Miguel Leitmann and all 470 employees will join Amadeus, and its biometric solutions will be added to Amadeus’ portfolio. The company expects revenues of €70 million this year, and had an estimated normalized EBITDA of nearly €20 million in 2023, according to the announcement.

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