Identrus has completed acquisition of Zions Bancorporation's affiliate Digital Signature Trust Co. (DST).
Under terms of the acquisition, announced in the first quarter of this year, Zions maintains a 33 per cent ownership stake in Identrus in exchange for DST.
Zions will also have representation on the Identrus board with two positions expected to be filled by Doyle Arnold, Zions Bancorporation chief financial officer, and Donald Ogilvie, executive vice president of the American Bankers Association ("ABA"). The ABA was a minority owner in DST and will maintain a small ownership in Identrus.
Other financial terms of the deal have not been disclosed.