The fire sale of Wirecard assets continues apace, with digital identity firm IDnow picking up the disgraced German firm's Communication Services unit.
The acquisition is intended to enhance the service quality of IDnow's suite of digital verification products at a time when the Covid-19 pandemic is driving more businesses and consumers online.
IDnow says it will retain the Leipzig location of the Wirecard unit, preserving the majority of the 150 employees.
“With the integration of Wirecard Communication Services into the IDnow Group, we are seizing the opportunity to further improve our range and service quality for our customers," says Andreas Bodczek, CEO of IDnow. "We have worked in close collaboration with this division of the company for several years and greatly appreciate the qualifications and experience of its employees. We are on a strong growth path and will maintain and further develop the Leipzig location.”
The Communications arm is not the only part of Wirecard under the hammer - administrators have also offloaded the company's Brazilian unit to PagSeguro Digital and agreed terms for the sale of the UK Card Soultions business to Railsbank. Talks to sell Wirecard North America are also said to be advanced.