Why Ping Identity’s Acquisition of ShoCard May Preview Future of Security

Denver-based Ping Identity, which specializes in intelligent identity software, made official on Oct. 6 that it is acquiring personal identity management platform maker ShoCard to bolster its security platform. 

The acquisition was first announced in March during the company’s fourth-quarter 2019 earnings call. Financial terms of the deal were not disclosed, but according to Ping’s first-quarter statements, the vendor paid $4.7 million for ShoCard.

With the adoption of this technology, Ping Identity is paving the way for a new identity model in which end users are in control of the personal details they share with service providers, creating an all-around frictionless, privacy-first user experience. 

Ping CEO Andre Durand said that ShoCard brings a secure, easy-to-use solution to store and exchange personal identity data, using blockchain technology that will be integrated into the Ping Intelligent Identity Platform. Personal identity, also called decentralized or self-sovereign identity, creates a new way for consumers

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