ProofID and PEGRight Merge to Create £18m ($23M) International IAM Company

ProofID Ltd, a Manchester-based provider of Identity Management (IDM) technology solutions and U.S.-based PEGRight Inc, an Identity and Access Management (IAM) specialist have announced their merger. The $5m transaction will immediately increase group turnover by 50 percent to over £6m with the number of employees rising from 32 to 48.
The merger will see the creation of a company with a potential market valuation of over $23m that will operate across both Europe and North America delivering independent identity and access management solutions. The transaction is akin to a merger of equals, with PEGRight’s executive directors joining the board of directors of ProofID and taking a lead role in the management and strategy of the group. The companies will initially continue to trade under their own brand names as they have recognition in their own territories.

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