Digital security and credential issuance company Entrust has entered into an agreement to acquire Paris-based Antelop Solutions, according to a press release.
Antelop's current customer base includes upwards of 40 banks in at least 25 countries that utilize its technology to issue secure digital credit and debit cards to their clients. Entrust predicts that the acquisition will enhance its ability to provide seamless digital and physical payment options for its customers.
About 30 individuals from Antelop will be joining Entrust, including Antelop Solutions founder and CEO Nicolas Bruley, who will retain his position.
"We are extremely pleased to join the Entrust team," Bruley said, according to the press release. "Our game-changing technology greatly reduces the complexity of issuing digital payment offerings. As a certified Visa, Mastercard and Cartes Bancaires (CB) partner, we can deliver fast, secure integration of all card features onto a single digital payment credential. This empowers banks, credit unions and other issuers to offer true digital-first payment credentials that fully align with consumer expectations for simplicity and security.”
"Entrust is empowering our customers to meet the challenge of next-generation payment solutions," Mike Baxter, SVP of Product Development at Entrust, said, according to the press release. "By bringing the Antelop secure digital financial credential solutions into the Entrust portfolio, customers will gain access to the latest thinking and innovation across the consumer payments ecosystem. Entrust has been investing and leading innovation in financial credentials for more than 50 years, and we expect this to continue for decades to come."
The deal is expected to officially close over the next several weeks.