Boston-based xyzmo SIGNificant Group has claimed that its shareholders have acquired all remaining shares of Austria –based SIGNificant Signature Solutions from its Israeli founding partner Wondernet.
“With this share transfer in place, xyzmo and SIGNificant are now integrated into xyzmo SIGNificant Group,” the company said in a press release.
Apart from shares, xyzmo has also acquired all intellectual property rights including the handwritten signature biometric engine from Wondernet, hoping to streamline its operations.
The resulting group will now be combining the technology solutions of all -- xyzmo, SIGNificant and Wondernet -- into a single digital e-signature product line including real-time biometric authentication capabilities.
The purchase of shares was completed on February 14.
Analysts believe the combination of these three technologies will generate a complete product suite for e-signature market.
“We see this as an extremely positive step towards market leadership in the US. Furthermore, it will substantially increase our momentum and ability to execute sales in this rapidly growing industry," said Juergen Hirtenfelder, Managing Director of xyzmo USA LLC.
The xyzmo SIGNificant Group says it will retain all assets and key employees of Wondernet currently working on the R&D of innovative digital signature solutions and open a development center in Israel.
Narayan Bhat is a contributing editor for TMCnet. To read more Bhat’s articles, please visit his TMCnet columnist page.
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