IDnow acquires Identity Trust Management in Germany

By Megha Bhattacharya

Identity Verification-as-a-Service provider, IDnow has announced that it will be acquiring Identity Trust Management AG, a digital and offline identification solutions provider in Germany. The transaction is expected to expand the portfolio of verification methods offered via the IDnow platform. The combined product portfolio will offer a set of identity verification methods available in the European market, ranging from automated to human-assisted and from purely online to point-of-sale. All these methods will be made available via the unified IDnow platform.

“Identity Trust Management AG has built an impressive company both in terms of product portfolio and client relationships,” said Andreas Bodczek, CEO at IDnow. “We have known the leadership team for years and have established a partnership rooted in deep loyalty and mutual understanding. We are excited to welcome identity Trust Management AG’s talented team to the IDnow family and look forward to combining the strengths of both companies to create a unified, market-leading brand.”

According to IDnow, the acquisition of Identity Trust Management will allow it to expand into new industry verticals and provide its services to a broader customer base throughout Germany and beyond. IDnow will retain identity Trust Management AG’s Düsseldorf location as well as its employees.

“This combination unites the power of IDnow’s innovative technology with identity Trust Management AG’s diverse set of capabilities to create a differentiated identity verification platform,” said Uwe Stelzig, CEO at identity Trust Management AG. “Together, we will be well-positioned to achieve our joint vision of providing clients with a unique, one-stop solution for identity verification.”

Recently, IDnow announced the appointment of Bettina Pauck as the Chief Operations Officer. The new COO will be responsible for heading the Operations division at the Munich site as well as the new Leipzig site, acquired from Wirecard Communication Services. Pauck will also be involved with the integration of the former Wirecard Communication Services GmbH – now IDnow Services GmbH – into the existing processes and to optimally position the business unit for the foreseeable growth.