OneSpan (NASDAQ: OSPN), a Chicago, IL-based digital agreements security company, acquired ProvenDB, a Melbourne, Australia-based startup that delivers secure storage and vaulting for documents.
The amount of the deal was not disclosed. The transaction is anticipated to close during the first quarter of 2023, subject to customary closing conditions.
With the acquisition, ProvenDB will extend the capabilities of OneSpan’s Transaction Cloud Platform to both public and private blockchains and serve as a modern technological foundation for high assurance business processes for Web3.
ProvenDB uses Blockchain technology to create a trustworthy database. Immutable versions of database state are anchored to the Blockchain, which delivers data integrity. ProvenDB Compliance Vault is a tamper-resistant store for compliance data and other documentation built on the ProvenDB database engine.
Led by CEO Matthew Moynahan, OneSpan helps organizations accelerate digital transformations by enabling secure, compliant, and refreshingly easy customer agreements and transaction experiences. Organizations requiring high assurance security, including the integrity of end-users and the fidelity of transaction records behind every agreement, leverage OneSpan to simplify and secure business processes with their partners and customers.
FinSMEs
27/01/2023