PriyaPatelTLDR:
- Signicat, a digital identity solutions provider, has acquired SmartWorks in Iceland.
- This acquisition is part of Signicat’s expansion strategy across Europe.
Signicat, a European provider of digital identity solutions, has acquired SmartWorks, its counterpart in Iceland. Since the arrival of the new owner, private equity firm Nordic Capital in 2019, Signicat has been expanding across Europe through acquisitions. SmartWorks, Iceland’s largest provider of digital identity and fraud prevention in electronic signing solutions, joins Signicat’s portfolio, which already includes Connectis, Encap Security, Electronic Identification (eID), Sphonic, and Dokobit.
Founded in Reykjavik in 2016, SmartWorks counts Íslandsbanki, Brimborg, and the City of Reykjavik among its clients. All SmartWorks employees have joined Signicat, with Olafur Pall Einarsson, SmartWorks’ founder, appointed as country manager for Iceland. Signicat, headquartered in Trondheim, Norway, now employs over 450 people across 17 European offices and serves 13,000+ customers in 44 countries, providing solutions and services to financial institutions, insurance companies, mobility organizations, and governmental entities.
