Signicat acquires Icelandic digital identity firm

The acquisition will help Signicat expand its presence and reach in Iceland, according to the company.

All SmartWorks employees have joined the Signicat team following the acquisition and Olafur Pall Einarsson has been appointed country manager Iceland at Signicat. The company also plans to invest in the SmartWorks team going forward.

Founded in Reykjavik in 2016 by Olafur Pall Einarsson, SmartWorks is a provider of e-signatures and anti-fraud tools.

Asger Hattel, chief executive at Signicat, said: “We are highly enthusiastic about this acquisition as SmartWorks is the market leader in Iceland when it comes to fraud and digital identity.

“We can now further leverage SmartWorks’ expertise and resources to sell our portfolio of digital identity solutions across the Icelandic market.”

Olafur Pall Einarsson, chief executive and founder at SmartWorks, said: “This union puts us in the position to shape the future of digital identity in Iceland and to partner with all key stakeholders to define how the market will evolve.

“We are very excited to join Signicat and it will vastly strengthen the service offering for Icelandic companies. Signicat is trusted by leading companies around the world and is backed by Nordic Capital, one of the largest private equity funds in Europe.”