OneSpan

Last updated
OneSpan Inc.
FormerlyVasco Data Security International, Inc.
Company type Public
Industry
Founded1984;40 years ago (1984)
FounderT. Kendall Hunt
Headquarters Boston, Massachusetts, U.S.
Key people
T. Kendall Hunt (chairman)
Victor Limongelli (CEO)
Revenue$193.3 million (2017)
$6.2 million[ citation needed ] (2017)
$22.9 million[ citation needed ] (2017)
Total assets $337 million[ citation needed ] (2017)
Number of employees
613 (2016 [1] )
Website onespan.com

OneSpan Inc. (formerly Vasco Data Security International, Inc.) is a publicly traded cybersecurity technology company based in Boston, Massachusetts, with offices in Montreal, Brussels and Zurich. The company offers a cloud-based and open-architected anti-fraud platform and is historically known for its multi-factor authentication and electronic signature software. [2] [3]

Contents

It was founded by T. Kendall Hunt in 1991 and held its initial public offering (IPO) in January 2000. OneSpan is a member of the FIDO Alliance Board. [4] [5]

History

In 1984, T. Kendall Hunt founded Vasco as a consulting and software services company for corporate and governmental agencies. In 1991, the company acquired ThumbScan, which claimed to have the first fingerprint reader device for a computer. [6] [7]

In 1993, the company was renamed Vasco Data Security International and expanded its offerings to include data security. Vasco was incorporated in 1997 and held its initial public offering in January 2000. [8]

Vasco Digipass 250, branded RaboDirect Vasco Digipass 250, branded Rabobank-6688.jpg
Vasco Digipass 250, branded RaboDirect

Vasco started developing its Digipass technology in the early 2000s. The company marketed the technology internationally in Belgium. In 2009, Vasco announced that Digipass two-factor authentication was available in the App Store for iPhone and iPod Touch. Forbes recognized Vasco on its list of "America's Fastest-Growing Tech Companies" that year. [9] [10] [11]

In 2006, Vasco acquired LOGiCO Smart Card Solutions, a privately-owned company located in Austria offering smart card–based authentication and PKI solutions. [12]

In January 2011, Vasco acquired DigiNotar, a Dutch certificate authority. [13] In June 2011, DigiNotar was hacked and started issuing false security certificates. When the news broke, all issued certificates were cancelled and the company went bankrupt. [14]

In 2013, Vasco announced its acquisition of the Cambridge-based technology company Cronto. [15] The patented CrontoSign solution uses specialized color bar codes, so-called Cronto Visual Cryptograms (or photoTAN), to mitigate MITB Trojan malware. [16]

The company established its international headquarters at Dubai Silicon Oasis in 2012. Vasco announced that it would lower EMEA channel entry for VARs at that time. It became a member of the Fast IDentity Online (FIDO) Alliance in June 2014 and was later recognized by Gartner's Magic Quadrant for User Authentication. [17] [18] [19] [20]

In 2014, the company acquired Risk IDS, Ltd., a provider of risk-based authentication solutions to the global banking community. By 2015, IDENTIKEY Risk Manager (IRM) was released as a comprehensive risk management solution to improve the methods and speed of organizations to detect fraud. [21]

In October 2015, Vasco acquired Silanis Technology, a Canadian document e-signature company, for US$113 million. By early 2016, the company's cloud electronic signature software, eSignLive, was updated to include integration with Salesforce. Vasco announced a face recognition authentication feature for Digipass in May 2016. The company has partnerships with financial institutions including HSBC Bank USA, Fedict, Rabobank, Arab Bank and Riyadh Bank. [22] [23] [24] [25] [26]

OneSpan

On May 30, 2018, Vasco changed its name to OneSpan. [27] It now trades under the ticker symbol OSPN.

In May 2018, the company acquired Dealflo, a UK and Canada-based financial agreement automation software company, for GB£41 million. [28]

In January 2023, OneSpan announced to acquire ProvenDB, an Australia-based startup that delivers secure storage and vaulting for documents based on blockchain technology. [29]

Technology

Services are delivered through OneSpan's open, cloud-based Trusted Identity (TID) platform [30]

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References

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  27. Penny Crosman. "Vasco buys digital ID company, changes name to OneSpan". American Banker. Archived from the original on October 19, 2018. Retrieved October 18, 2018.
  28. "VASCO Rebrands as OneSpan, and Grows with Dealflo Acquisition". FindBiometrics. Retrieved October 18, 2018.
  29. "OneSpan to Acquire Document Storage Company ProvenDB".
  30. 1 2 Vasco Data Security Changes Name To OneSpan, Pays $55M For Identity Verification Vendor
  31. Javelin Strategy & Research honors Daon and OneSpan with Mobile Biometrics Platform awards
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  33. "Vasco offers two-factor authentication via mobile phone". IT News. Retrieved October 18, 2018.
  34. OneSpan to Demonstrate Innovations in Cloud-Based Risk Analytics, Blockchain and Digital Account Opening at Money 20/20 USA 2018