Identity and Access Management (IAM) specialist - ProofID has announced that it has acquired Identity Governance and Administration (IGA) integrator, Regatta Solutions Group.
The acquisition unites the competencies of both organisations as integrators of Ping Identity and SailPoint solutions respectively while positioning the company as a provider of enterprise identity solutions and global identity managed services. The combined business is projected to generate more than $32 million in revenue in 2023.
IAM solutions and MSP
Based in Austin, Texas with 35 identity specialists, the company will initially trade as ‘Regatta, a ProofID company’ and will subsequently be fully integrated into ProofID, creating an IAM solutions and managed service provider (MSP) across Europe and North America.
For customers of both companies, it provides an opportunity to work with one partner to manage Ping Identity and SailPoint solutions.
Identity managed services
ProofID will also add Austin, Texas to its existing US base in Colorado Springs from which to continue growth
Following the acquisition, ProofID will grow and strengthen its partnership with SailPoint, broaden its existing IGA business, and expand its SailPoint practice into Europe as well as offering identity managed services to both Ping Identity and SailPoint customers.
ProofID will also add Austin, Texas to its existing US base in Colorado Springs from which to continue growth in North America.
Access to expertise and competencies
“With the acquisition of Regatta, our customers have access to a much wider set of expertise and competencies whether managing identities within the enterprise or building personalised experiences for their customers,” explains Tom Eggleston, CEO, ProofID.
He adds, “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.”
SailPoint Admiral Delivery Partner
ProofID has been Ping Identity’s Delivery Partner of the Year for the last five years and is an IAM-managed services franchise with over 60 global enterprise customers.
In 2022 Maven Capital Partners invested $19 million in the business, and it has had a greater than 30% annual revenue growth rate for the last three years. Regatta is a SailPoint Admiral Delivery Partner, the highest accolade, and has achieved similar revenue growth.
Enterprise identity security solutions
This acquisition marks a significant milestone for Regatta, as it allows us to combine our respective knowledge"
John Ciulla, CEO, and President of Regatta said, “We are incredibly excited to join forces with ProofID and embark on this transformative journey together."
He adds, "This acquisition marks a significant milestone for Regatta, as it allows us to combine our respective knowledge and expertise across the enterprise identity security solutions from SailPoint and Ping Identity, elevating our offerings to new heights."
Delivering managed services
John Ciulla continues, “With our expanded global reach and the ability to offer both SailPoint and Ping Identity managed services, we are poised to deliver unparalleled value to our customers worldwide.”
Following the acquisition of Regatta, ProofID will count Williams and Love’s, Avis, Tesco Bank, Nelnet, and Paymentus among its customers.