Vasco acquires Dealflo for £41m

Identity security specialist Vasco Data Security has announced it has acquired privately-held Dealflo for £41 million in cash. In a separate press release, Vasco announced its name is changing to OneSpan.

Dealflo is a provider of identity verification and end-to-end financial agreement automation solutions. Its workflow management system automates the full lifecycle of customer onboarding by providing a flexible and automated application process, integration of third-party identity verification services, tailored and configurable contract generation, e-signature capture and secure vaulting.

The Group’s Retail Banking and Payments Research Director, Julie Conroy said “The combination of two leading providers of solutions for agreement automation creates a strong offering for customer onboarding. Financial institutions in particular have a growing demand for onboarding automation solutions and coming from OneSpan, a leading provider in the financial services industry, this will make for a very compelling offering in the market.”

“This acquisition will enable us to grow our subscription revenue and Dealflo’s technology will be a major differentiator for our eSignLive solution,” said VASCO CEO, Scott Clements. “In addition, Dealflo’s identity verification capabilities will allow us to accelerate the launch of our TID platform based onboarding, identity and anti-fraud solutions.”