Entrust in exclusive discussions to acquire Onfido

Entrust has confirmed that the company is in exclusive discussions to acquire UK-based Onfido.

If the acquisition were to be completed, Entrust would be adding a compliant AI/ML-based biometric and document IDV tech stack to its portfolio of identity solutions.

“Unmatched identity security solutions”

“We chose to enter into discussions to acquire Onfido because we believe they have the best-in-class IDV team, capabilities and tech stack in the world,” said Todd Wilkinson, President and CEO, Entrust. 

“With the emergence of AI-based attacks, the identity verification game has changed.

“Deepfakes and synthetic identity are driving a global need for a powerful level of identity assurance that facilitates crucial digital journeys in banking, finance, government, travel and more.

“Step-up authentication using biometric-based, AI-driven identity verification will be critical to ensuring security, privacy and trust in these high value digital-first interactions.

“Onfido IDV solutions have proven their value in Europe’s high compliance environment.

“With the proposed acquisition of Onfido, Entrust would have the opportunity to provide unmatched identity security solutions at a time when they are needed most among enterprises and institutions.”

Any agreement remains subject to regulatory approval and steps required in accordance with law.