Signicat, renowned as Europe’s top digital identity solutions provider, has officially announced its acquisition of SmartWorks, a leader in digital identity and fraud prevention services in Iceland.
The acquisition’s primary objective is to consolidate Signicat’s position in the Icelandic market by integrating SmartWorks’ expertise and solutions. This synergy aims to expand the range of digital identity solutions offered by Signicat and to enhance their sales and market penetration in Iceland.
Signicat is a pioneer in digital identity services in Europe, offering a comprehensive digital identity platform that supports more than 35 national digital identities. This platform facilitates seamless electronic interactions across businesses and public administrations. The company has been expanding its European footprint through strategic acquisitions, enhancing its technology, customer base, and market expertise.
SmartWorks, established in Reykjavik in 2016 by Olafur Pall Einarsson, has grown to become Iceland’s largest provider of e-signatures and anti-fraud solutions. Serving a wide range of clients, including large corporations and government entities, SmartWorks has been instrumental in the adoption of digital identity solutions in Iceland.
This acquisition aligns with Signicat’s strategy to enhance its digital identity solutions portfolio and leverage SmartWorks’ market leadership in Iceland. The integration of SmartWorks under the Signicat umbrella is expected to bolster the offering of digital identity solutions across the Icelandic market, supporting businesses in combating fraud and improving customer conversion rates.
Following the acquisition, all SmartWorks employees have joined the Signicat team, with Olafur Pall Einarsson appointed as the Country Manager for Iceland at Signicat. Signicat CEO Asger Hattel said, ”
SmartWorks CEO and Founder Olafur Pall Einarsson remarked, “Electronic signatures are widely adopted and already a business standard in Iceland. However, trust services extend far beyond signatures with authentications, identity proofing, validations, trust orchestration and many other related services. This union puts us in the position to shape the future of digital identity in Iceland and to partner with all key stakeholders to define how the market will evolve.
“We are very excited to join Signicat and it will vastly strengthen the service offering for Icelandic companies. Signicat is trusted by leading companies around the world and is backed by Nordic Capital, one of the largest private equity funds in Europe.”
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