This is technology M&A deal number 267 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2023, 2022, 2021, and 2020 listed here.
ProofID, founded in 2008, is based in Colorado Springs, Colorado. The company has 98 employees listed on LinkedIn. ProofID’s areas of expertise include identity security integration and managed services.
Regatta Solutions Group, founded in 15, is based in Austin, Texas. The company has 35 employees listed on LinkedIn. Regatta’s areas of expertise include Identity Governance and Administration integration.
Strategic Advantages of the Acquisition
The combined prowess of ProofID and Regatta promises a consolidated expertise in integrating Ping Identity and SailPoint solutions, according to the company. With an anticipated revenue of over $32 million in 2023, the amalgamated business aims to establish itself as a leading IAM solutions and managed service provider (MSP) across Europe and North America.
ProofID says it plans to expand its SailPoint operations into Europe and to add Austin, Texas to its existing US base in Colorado Springs, positioning itself for further growth in North America.
ProofID Acquires Regatta: Leadership Remarks
Tom Eggleston, CEO, ProofID, commented:
"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."
John Ciulla, CEO and president of Regatta, commented:
"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. With our expanded global reach and the ability to offer both SailPoint and Ping Identity managed services, we are now poised to deliver unparalleled value to our customers worldwide."