OneSpan, a Chicago-based cybersecurity firm, has announced the acquisition of Nok Nok Labs, a California-based provider of FIDO passwordless software authentication solutions.
The acquisition aims to expand OneSpan’s authentication capabilities, offering customers a broader range of secure and flexible authentication methods.
The move follows OneSpan’s recent launch of FIDO2 security keys and forms part of its wider strategy to enhance its authentication portfolio.
The company now provides both software and hardware authentication solutions, ranging from one-time passwords (OTP) to FIDO protocols, including Digipass, FIDO2, and Cronto transaction signing technologies. These options are available across both cloud-based and on-premises environments.
“This is more than an acquisition, it’s a bold step toward providing customers with maximum choice in authentication,”
said Victor Limongelli, CEO at OneSpan.
“We’re evolving our entire authentication platform to include FIDO standards because we believe passwordless is an important part of the future. With Nok Nok’s world-class technology and FIDO expertise, we now offer the most comprehensive and versatile customer authentication solution on the market.”
Nok Nok has played a significant role in advancing passwordless authentication standards.
The company serves clients across the US, Asia, and Europe, offering solutions that support both UAF and FIDO2 protocols. Its technology is designed for scalability and compliance with a variety of regulatory and business requirements.
“Joining OneSpan marks an exciting new chapter for our team and our technology,”
said Phillip Dunkelberger, President and CEO at Nok Nok.
“We’ve always believed that open standards like FIDO are an important part of the future of authentication, and with OneSpan’s global reach and innovation engine, we’re now poised to bring our vision to an even broader audience.”
OneSpan intends to integrate Nok Nok’s technology into its existing platform, creating a more comprehensive solution aimed at meeting the evolving security needs of financial institutions and enterprise clients.
Featured image credit: Edited by Fintech News America, based on image by fadfebrian via Freepik
