Clairfield advises Belgian Mobile ID, itsme®, on the acquisition of nextAuth
Belgian Mobile ID, known for the leading Belgian app for digital identification, authentication, and signing Itsme, acquired nextAuth, a KU Leuven/imec spin-off, providing secured end-to-end authentication using strong public key cryptography.
The itsme® app is used by more than seven million citizens to identify themselves, log into websites, confirm transactions and sign documents online. With this acquisition, BMID can further enhance the security and convenience of itsme®, thanks to the integration of nextAuth’s patented mobile multi-factor authentication solution. Additionally, it allows BMID to enrich its product offering with secure authentication solutions that can be embedded into the apps of partners. Co-founders, Jens Hermans and Roel Peeters, and R&D engineer, Pieter Maene, will join BMID to ensure a smooth integration and strengthen the R&D capabilities.
“itsme® and nextAuth share a common ambition: to ensure that all citizens can log in and sign documents securely and easily. Cybersecurity has been a top priority for both companies from day one. Therefore, this merger is a logical step. The integration of the nextAuth team, with its deep expertise and shared values, can only strengthen the evolution of itsme®. Moreover, the strong ties with KU Leuven are also particularly valuable,” says Stephanie De Bruyne, CEO of itsme®.
“We were very pleased with the pragmatic yet thoughtful assistance from Clairfield on this transaction. The Clairfield team, Hans Buysse and Anke Dom, did a great job in assisting us to structure the deal and align incentives with the new team.” –Wouter Vanderheere, CFO BMID.
“This deal was characterised by a marvellous collaboration, follow-up and professional complementarity by both the Allen&Overy and Clairfield team. Our team successfully served BMID on several operations so far and will continue to do so in the future.” –Hans Buysse, managing partner of Clairfield in Belgium.
Clairfield International in Belgium acted as exclusive financial advisor to Belgium Mobile ID.
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