VASCO Completes Acquisition of Silanis Technology, Inc.
Adds Broad-Based Signature Capabilities for Digitized Business Transactions, a Rapidly Growing Market with Rising Demand Among VASCO Customers
OAKBROOK TERRACE, IL and MONTREAL, November 25, 2015 /PRNewswire/ -- VASCO Data Security International, Inc. (NASDAQ: VDSI), a global leader in authentication, electronic signatures, and identity management, announced today it has completed the acquisition of privately held Silanis Technology, Inc., a leading provider of electronic signature (e-signature) and digital transaction solutions used to sign, send and manage documents. Originally announced on October 6, 2015, VASCO acquired Silanis for a purchase price, subject to adjustment, of USD $85 million (approximately CAD $113 million).
Silanis' eSignLive™ platform is trusted by some of the largest banks, insurers and government agencies. The acquisition demonstrates VASCO’s strong commitment to its vision of delivering new solutions that are in high demand within its financial services customer base, accelerating its transition to a recurring revenue model, strengthening its revenue base in North America, and expanding its customer base outside of its core banking business.
“The addition of eSignLive is a natural extension of our commitment to secure and facilitate online transactions via the web and mobile devices as more businesses, particularly financial institutions, seek innovative ways to improve the customer experience and achieve cost savings,” stated T. Kendall Hunt, Chairman and CEO of VASCO. “We are excited to be able to offer our customers e-signature technology that has been recognized by industry analysts as being among the best in the category.”
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 and LinkedIn.