DGAP-News FinLab AG: Authada signs a strategic agreement with Tinexta Group, which acquires a 16.7 percent stake, thereby expanding its Digital Trust presence to Germany
DGAP-News: FinLab AG / Key word(s): Investment
InfoCert, a subsidiary of the Tinexta Group, acquires a 16.7 percent stake in Authada. The agreement defines the terms of the commercial collaboration and the technical strategies that InfoCert and Authada will implement. These include the expansion of InfoCert's presence in the strategic DACH sector, the joint project to create a European Champion of Digital Trust Services, and options to enable InfoCert to acquire 100% of Authada under certain conditions.
Rome, Italy / Darmstadt, Germany, September 22nd, 2020 - Authada GmbH, a portfolio company of Frankfurt-based FinLab AG (ISIN: DE0001218063; Ticker: A7A.GR), and Tinexta SpA. today announce the signing of a strategic agreement between Tinexta's subsidiary InfoCert, the largest European Certification Authority, and Authada GmbH, a German Digital Identity Provider with cutting edge technology, based in Darmstadt, Germany.
Authada is active in the financial, telecommunications and sports betting markets - with well-known customers such as Vodafone, Comdirect (Commerzbank Group) and Sparkassenfinanzgruppe - and is currently expanding into the insurance, eCommerce and eHealth sectors. Authada was previously financed by FinLab AG, a listed investment company, and Main Incubator GmbH, early-stage investor and research and development unit of the Commerzbank Group.
The agreement signed defines the terms of a strategic collaboration between InfoCert and Authada, including the localization of InfoCert's leading Digital Enterprise Solutions for the German Market and their integration with Authada's advanced eID identification solution.
AUTHADA GmbH is the only certified identification service provider (BSI TR-03128) whose proprietary eID core is certified by the Federal Office for Information Security (Bundesamt für Sicherheit in der Informationstechnologie (BSI)) (BSI TR-03124 and BSI TR-03105). This technology allows the immediate reading of the data stored on the German electronic identity card. Such cards, already used by over 90% of the population in Germany, will arrive at complete national coverage by the end of 2020.