Today, Manchester Identity and Access Management (IAM) specialist ProofID announced that it has acquired identity governance and administration integrator Regatta Solutions Group for an unspecified amount.
ProofID offers business identity management services, such as workforce identity, access management, and user behaviour analytics.
The acquisition unites the competencies of both organisations as leading integrators of Ping Identity and SailPoint solutions. The combined business is projected to generate more than $32 million in revenue in 2023.
For customers of both companies, it provides an opportunity to work with one partner to manage Ping Identity and SailPoint solutions.
After the acquisition, ProofID will grow and strengthen its partnership with SailPoint, broaden its existing IGA business, expand its SailPoint practice into Europe, and offer identity-managed services to Ping Identity and SailPoint customers. ProofID will also add Austin, Texas, to its existing US growth.
Tom Eggleston, CEO, ProofID shared:
"With the acquisition of Regatta, our customers have access to a much broader set of expertise and competencies, whether managing identities within the enterprise or building personalised customer experiences.
As a united force, we have the proven expertise and resources to integrate both Ping Identity and SailPoint solutions, deliver expert solutions and provide managed services across Europe and North America, making ProofID a frontrunner across identity management disciplines."
In May 2022, ProofID raised £15 million in funding from Maven Capital Partners, and it has had a greater than 30 percent annual revenue growth rate for the last three years. Regatta has achieved similar revenue growth.
John Ciulla, CEO and president of Regatta, said:
"We are incredibly excited to join forces with ProofID and embark on this transformative journey together. It allows us to combine our respective knowledge and expertise across the leading enterprise identity security solutions from SailPoint and Ping Identity, elevating our offerings to new heights."
Following the acquisition of Regatta, ProofID will count Williams and Love's, Avis, Tesco Bank, Nelnet, and Paymentus among its customers.
Lead image: ProofID CEO, Tom Eggleston. Photo: Phil Tragen.