Digital Identity – Signicat extends their market reach into the Baltic countries with a new aquisition

Signicat, the Trusted Digital Identity Company™, acquires Baltic and Icelandic electronic signing market leader Dokobit, providing businesses cross-border signing capabilities. Like Signicat, Dokobit is one of the few Qualified Trust Service Providers (QTSP) on the EU Trust List, ensuring the strictest of assurance for validation of electronic signatures.

„This acquisition further strengthens Signicat’s product portfolio and expands their market reach into the Baltic countries, helping propel Signicat into Eastern European markets,” according to the press release.

Signicat is one of the fastest growing companies in Europe in a ranking by Financial Times. Revenues increased from EUR 24 million in 2019 to EUR 42 million last year. So far this year, the company has acquired two companies, Norwegian Encap Security and Spanish ElectronicIDentification (eID) enhancing its leadership position in the European RegTech market. Now, the company is announcing it has acquired Lithuanian Dokobit, the largest e-signature solutions provider in the Baltic market.

Dokobit is, like Signicat, expanding internationally. The company was founded in Vilnius, Lithuania in 2008, and has expanded to provide services also in Estonia, Latvia and Iceland. Similar to Signicat, it offers a broad range of e-signature solutions, from customer authentication to electronic signing, and it is an eIDAS certified Qualified Trust Service Provider (QTSP) for e-signatures and e-seals validation.