MONTREAL--(BUSINESS WIRE)--Silanis Technology has entered into an agreement to be acquired by VASCO Data Security International, Inc., which will position the e-signature provider to grow global e-signature adoption and lead international market share in the race to take business digital. With Silanis to become a subsidiary of VASCO, the e-signature provider will be able to leverage its parent company’s global presence and resources to accelerate the adoption of e-signatures and help organizations worldwide complete digital transactions securely.
“E-signatures have largely been a North American phenomenon until now and with VASCO’s vast resources, global footprint and established partner channels, we will be able to lead the international race against DocuSign and quickly bring e-signatures to enterprises in regions outside of North America,” said Silanis Technology CEO Tommy Petrogiannis. “The strength of VASCO’s presence in the European and Asia-Pacific markets, in conjunction with the global expansion efforts that Silanis started mid-year with IBM Cloud to meet in-country data-residency requirements will help realize our global game plan.”
The agreement of acquisition will add VASCO’s more than 10,000 international customers, including more than half the top 100 global banks, to Silanis’ significant North American presence. This, in conjunction with the unified platform of Silanis’ e-signature solution e-SignLive, which supports cloud, on-premise and hybrid deployment options, will make e-SignLive the strongest choice globally.
Silanis’ ability to execute and deploy e-signatures quickly and within local legal jurisdictions enables the company to satisfy growing concerns over data residency, recently reinforced by the European Court of Justice ruling that the transatlantic Safe Harbor agreement is invalid. With American companies no longer able to use a single standard for consumer privacy and data storage in both the US and Europe, demand for providers that meet in-country data residency requirements will be a priority especially for regulated markets.
This acquisition announcement follows on the heels of other significant acquisitions in the electronic signature market, including Adobe’s acquisition of EchoSign, Citrix’s acquisition of RightSignature, Kofax’s acquisition of SoftPro and DocuSign’s acquisition of ARX. Craig Le Clair, Principal Analyst at Forrester Research, reports a 53 percent average annual growth in the use of e-signatures since 2012 with the number of transactions settled using e-signatures topping 210 million and likely to reach more than 700 million in 2017. The consideration offered for Silanis, $110M Canadian ($85M USD), is a testament to the strength of Silanis’ product, market presence and customer base in the banking, insurance and government industries.
For this deal, Arma Partners acted as the exclusive financial advisor to Silanis.
VASCO is a world leader in providing two-factor authentication and digital signature solutions to financial institutions. Many of the top 100 global banks rely on VASCO solutions to enhance security, protect mobile applications and meet regulatory requirements. VASCO also secures access to data and applications in enterprise environments, and provides tools for application developers to easily integrate security functions into their web-based and mobile applications. VASCO enables more than 10,000 customers in 100 countries to secure access, manage identities, verify transactions, and protect assets across financial, enterprise, E-commerce, government and healthcare markets. Learn more about VASCO at VASCO.com and on Twitter, LinkedIn and Facebook.
About e-SignLive by Silanis
Businesses choose e-SignLive™ by Silanis when electronic signatures matter. e-SignLive is one of the most widely used e-signature solutions in the world and ranked as a leader by analyst firms. Organizations of all sizes, including top banks, insurers, credit providers, pharmaceutical companies and government agencies, trust e-SignLive to support and digitize their core business processes through innovations in digital transactions, mobile technology, audit trails and customer transaction analytics. Built on a single SaaS platform that can be delivered in the cloud or on-premises, e-SignLive offers the best customer experience while providing strong legal protection and regulatory compliance. Learn more at www.silanis.com.