US acquisition expands Salford ID group’s turnover to £27m
Salford-based identity and access management (IAM) specialist ProofID, has acquired a US operation, for an undisclosed sum, which will bring a combined turnover of £27m this year.
Identity Governance and Administration (IGA) integrator, Regatta Solutions Group, is based in Austin, Texas, with 35 staff.
It will initially trade as ‘Regatta, a ProofID company’ and will subsequently be fully integrated into ProofID, creating an IAM solutions and managed service provider (MSP) across Europe and North America.
The acquisition unites the competencies of both organisations as integrators of Ping Identity and SailPoint solutions, respectively, while positioning the company as a provider of enterprise identity solutions and global identity managed services.
Following the acquisition, ProofID will grow and strengthen its partnership with SailPoint, broaden its existing IGA business and expand its SailPoint practice into Europe as well as offering identity managed services to both Ping Identity and SailPoint customers.
ProofID will also add Austin, Texas to its existing US base in Colorado Springs from which to continue growth in North America.
Tom Eggleston, ProofID CEO, said: “With the acquisition of Regatta, our customers have access to a much wider set of expertise and competencies whether managing identities within the enterprise or building personalised experiences for their customers.
“As a united force we have the proven expertise and resources to integrate both Ping Identity and SailPoint solutions, deliver expert solutions and provide managed services across both Europe and North America making ProofID a frontrunner across identity management disciplines.”
In 2022 Maven Capital Partners invested £15m in the business, and it has had a greater than 30% annual revenue growth rate for the past three years. Regatta is a SailPoint Admiral Delivery Partner, the highest accolade, and has achieved similar revenue growth.
John Ciulla, CEO, and president of Regatta, said: “We are incredibly excited to join forces with ProofID and embark on this transformative journey together.
“This acquisition marks a significant milestone for Regatta, as it allows us to combine our respective knowledge and expertise across the leading enterprise identity security solutions from SailPoint and Ping Identity, elevating our offerings to new heights. ”
Following the acquisition of Regatta, ProofID will count Williams and Love’s, Avis, Tesco Bank, Nelnet and Paymentus among its customers.
