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Entrust wraps up Onfido acquisition

Entrust wraps up Onfido acquisition
Entrust wraps up Onfido acquisition

Entrust, a Minneapolis-based data security firm, has acquired London-based identity verification company Onfido. The deal amount was not disclosed.

With this acquisition, Entrust aims to enrich its portfolio with AI-powered, identity-centric security solutions. Onfido’s CEO, Mike Tuchen, and his team have built a real identity platform that serves over 1,200 global customers, including leading financial institutions and e-commerce companies.

Entrust, led by President and CEO Todd Wilkinson, seeks to expand its presence in financial services and identity access management. The acquisition is expected to bolster Entrust's ability to secure enterprises, governments, and their transactions.

Onfido, prior to the acquisition, had more than $140 million in annual revenue and over 500 employees. Entrust's network of global partners and experts will now leverage this to provide enhanced security solutions across more than 150 countries.