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