IDnow Acquires Wirecard Communication Services
- M&A Deals
- 01.09.2020 10:42 am
IDnow a leading provider of Identity Verification-as-a-Service solutions and Wirecard Communication Services GmbH announce the signing of an agreement for the acquisition of Wirecard Communication Services by IDnow. IDnow will retain the Leipzig location preserving the majority of the 150 employees.
With Wirecard Communication Services, IDnow will focus on providing identity services and continue to build additional capacity for the strong growth of IDnow identification processes. In light of organic growth in digital services as well as the added needs related to restrictons imposed by the COVID-19 pandemic, IDnow is experiencing a sharp increase in demand for its digital verification procedures. The acquisition is intended to enhance the service quality of IDnow products and thus further increase the responsiveness for customers and cut waiting times.
Wirecard Communication Services GmbH was established on April 29, 2003, and is part of the Wirecard Group. In a structured investor process, Wirecard Communication Services GmbH was offered for sale by way of an asset deal. IDnow and Wirecard Communication Services have already been working together successfully for more than five years.
At a staff meeting on Monday afternoon, the insolvency administrator, attorney Dr. Nils Freudenberg from Tiefenbacher Insolvency Administration, announced the takeover to the staff of Wirecard Communications Services. The first step will be to provide the employees with appropriate qualifications and to adapt the technical infrastructure. Following this realignment, the Leipzig location will be expanded in a targeted way and integrated into the IDnow processes in order to enable even faster implementation of projects as well as further technical development of the Ident services.
"With the integration of Wirecard Communication Services into the IDnow Group, we are seizing the opportunity to further improve our range and service quality for our customers. We have worked in close collaboration with this division of the company for several years and greatly appreciate the qualifications and experience of its employees. We are on a strong growth path and will maintain and further develop the Leipzig location," says Andreas Bodczek, CEO of IDnow.
"We are delighted to have found in IDnow a buyer who appreciates and knows our company and has such a friendly culture. Personally, I am very pleased to stay on board and work in the team at IDnow," says Amra Blume, Managing Director Wirecard Communications Services.