Berlin – While working at SMP, members of the YPOG team advised IDnow, one of the leading providers of Identity Verification-as-a-Service solutions in Europe, on its cross-border acquisition of ARIADNEXT, a French company that also specializes in remote verification as well as digital identity creation. Through their collaboration, the two companies say they can offer a comprehensive identity verification platform. This includes AI-powered solutions and verification services with personal assistance that can be used both online and at the point of sale. The combination of the two companies' solutions expands IDnow's offering in the UK, French and German markets. It also benefits international customers who require identity verification across multiple jurisdictions and use cases. IDnow will acquire ARIADNEXT's sites in Rennes, Paris, Madrid, Bucharest, Iasi and Warsaw, as well as its more than 125 employees. The acquisition is subject to regulatory approvals.
A team led by partner Benjamin Ullrich has advised IDnow on several occasions in the recent past, including a financing round with the participation of Corsair Capital, the acquisition of Wirecard Communication Services and, most recently, the takeover of identity Trust Management AG.
French co-counsel was Tristan Segonds (Villechenon).
"We are pleased to have advised IDnow also on this cross-border transaction. It is impressive to see how fast and successfully the company is growing. Identity Verification-as-a-Service is a huge global growth market. It is also hard to imagine our day-to-day work as a law firm without the technology," says Benjamin Ullrich.
Advisors IDnow:
Dr. Benjamin Ullrich (Co-Lead), Partner
Matthias Kresser, Associated Partner
Dr. Adrian Haase (Co-Lead), Senior Associate
About us
YPOG stands for You + Partners of Gamechangers – forward-thinking legal and tax advice. Supporting companies that are focused on emerging technologies, YPOG embraces change as an opportunity to develop cutting-edge solutions. The YPOG team offers comprehensive expertise in the areas of Funds, Tax, Transactions, Corporate, Banking, Regulatory + Finance, IP/IT/Data Protection, Litigation, and Corporate Crime + Compliance + Investigations. YPOG is one of the leading law firms in Germany for venture capital, private equity, fund structuring, and the implementation of distributed ledger technology (DLT) in financial services. Both the firm and its partners are regularly recognized by renowned national and international publications such as JUVE, Best Lawyers, Chambers and Partners, Leaders League, and Legal 500. YPOG is home to more than 150 experienced attorneys, tax advisors and tax specialists as well as a notary, working across offices in Berlin, Hamburg, Cologne, and Munich.
Further information: www.ypog.law/en/ and www.linkedin.com/company/ypog
