Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Matica Fintec SpA ( (IT:MFT) ) has shared an announcement.
Matica Fintec has signed an agreement to acquire a 51% stake in California-based Credence ID, a global provider of biometric and digital identity verification, mobile ID and software solutions, in a deal largely structured via a capital increase. Credence, which generates about USD 8 million in annual revenue and operates in more than 30 countries with major technology partners, will enable Matica Fintec to expand its technology stack into end-to-end biometric and mobile ID solutions, strengthen its presence in the United States, and create an internal competence center dedicated to mobile identity. The transaction, with an initial USD 8 million outlay and an earn-out mechanism tied to 2026 EBITDA for a potential further investment of up to USD 4 million, is intended to consolidate Matica Fintec’s leadership in the fast-growing digital identity segment and broaden its global customer base across government, industrial, commercial and fintech markets.
More about Matica Fintec SpA
Matica Fintec S.p.A. is an Italian innovative SME listed on Euronext Growth Milan that designs, produces and markets high‑tech systems for identity documents and banking solutions, focusing on secure ID issuance and financial sector technologies for governments, banks and large corporates worldwide.
Average Trading Volume: 6,731
Technical Sentiment Signal: Buy
Current Market Cap: €65.01M
For an in-depth examination of MFT stock, go to TipRanks’ Overview page.