Dokobit and Signicat join forces

Dokobit, a Lithuanian-based provider of electronic document signing solutions, was acquired by the Norwegian company Signicat AS. The shareholders of Dokobit were represented by Ellex in Lithuania.

The founders of Dokobit and the entire team will continue to participate in the activities of Dokobit.

Dokobit is the largest provider of signature-based solutions in the Baltics and Iceland, providing software as a service (SaaS) solutions for business and the public sector for authentication, e-signature and validation processes for signatures and stamps. Dokobit services are used by companies such as Luminor, Telia and others.

Signicat is Europe’s leading provider of verified digital identity solutions, mainly focused on the regulated financial services industry. According to the Financial Times, Signicat is one of the fastest-growing companies in Europe. Its revenue grew from 24M EUR in 2019 up to 42M EUR last year. Signicat, like Dokobit, is one of the few Qualified Trust Service Providers on the EU Trusted List.

The sellers were assisted by Ellex in Lithuania, and the project was led by associate partner Povilas Junevičius, working together with M&A colleagues partner Žilvinas Zinkevičius, senior associate Mantas Juška, junior associate Aušra Abraitytė, tax expert Gintaras Balčius, and competition expert Ilona Jančiauskaitė.