Old Trafford-based ProofID merges with US firm PEGRight in £4m deal

Identity management technology firm ProofID Ltd has announced a multi-million pound merger with PEGRight Inc, a US-based identity and access management business.

The £4m transaction has increased Old Trafford-based ProofID’s group turnover by 50% to over £6m and its employee count from 32 to 48.

The two companies will retain their own brand names, but move forward as a combined business with potential market valuation of more than £18m operating across Europe and North America.

As part of the deal, Colorado-based PEGRight’s executive directors have joined ProofID’s board of directors and taken a lead role in the group’s management and strategy.

Although the two companies share some common lines of business, with both serving as integration partners for tech firm Ping Identity Inc in their respective territories, both believe the merger will help them expand their footprint geographically.

Following the merger, ProofID’s identity management as a managed service offer will be rolled out to the North American market. PEGRight’s identity analytics platform, meanwhile, will complement ProofID’s existing identity governance and administration software business across the EMEA and North America markets.

ProofID chief exec Tom Eggleston said: “The opportunity to come together with PEGRight is tremendously exciting for ProofID our partners and customers.

“We are perfectly matched, bringing together unrivalled technical expertise on both sides of the Atlantic, whilst both bringing additional products and services to enhance each business.”

He continued: “Our new-found scale enables us to accelerate our product development and bring additional value and services to our existing managed service customers, whilst allowing us to address new territories and markets that were previously closed to us.”

ProofID formerly traded as Salford Software, owned by Salford University.

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