Sorainen, working alongside Norwegian firm Wikborg Rein, has advised digital identity company Signicat on its acquisition of Baltic electronic signature solution provider Dokobit. Ellex Valiunas advised the seller.
According to Ellex, Dokobit provides SaaS solutions for businesses 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 a provider of verified digital identity solutions, mainly focused on the regulated financial services industry. Its revenue grew from EUR 24 million in 2019 up to EUR 42 million last year.
The Ellex team consisted of Partners Povilas Junevicius and Zilvinas Zinkevicius, Senior Associate Mantas Juska, Tax Expert Gintaras Balcius, Competition Expert Ilona Janciauskaite, and Junior Associate Ausra Abraityte.
The Sorainen team was led by Partner Laimonas Skibarka and Associate Laura Matuizaite.