OneSpan explained

OneSpan Inc.
Former Name:Vasco Data Security International, Inc.
Type:Public
Predecessors:-->
Successors:-->
Founder:T. Kendall Hunt
Key People:T. Kendall Hunt (chairman)
Victor Limongelli (CEO)
Revenue:$243.2 million[1]
Revenue Year:2024
Operating Income:$44.8 million[2]
Income Year:2024
Net Income:$28.8 million[3]
Net Income Year:2024
Assets:$338 million[4]
Assets Year:2024
Owners:-->
Num Employees:613
Num Employees Year:2016

OneSpan Inc. (until 2018 Vasco Data Security International, Inc.) is an information security company based in Boston, Massachusetts. Services include an internet fraud prevention platform, multi-factor authentication tools and electronic signature software.

History

In 1984, T. Kendall Hunt founded Vasco as a consulting and software services company for corporate and governmental agencies. In 1991, the company acquired ThumbScan, which claimed to have the first fingerprint reader device for a computer.[5] [6]

In 1993, the company was renamed Vasco Data Security International and expanded its offerings to include data security. Vasco was incorporated in 1997 and held its initial public offering in January 2000.[7]

Vasco started developing its Digipass technology in the early 2000s. The company marketed the technology internationally in Belgium. In 2009, Vasco announced that Digipass two-factor authentication was available in the App Store for iPhone and iPod Touch. Forbes recognized Vasco on its list of "America's Fastest-Growing Tech Companies" that year.[8] [9] [10]

In 2006, Vasco acquired LOGiCO Smart Card Solutions, a privately owned company located in Austria offering smart card–based authentication and PKI solutions.[11]

In January 2011, Vasco acquired DigiNotar, a Dutch certificate authority.[12] In June 2011, DigiNotar was hacked and started issuing false security certificates. When the news broke, all issued certificates were cancelled and the company went bankrupt.[13]

In 2013, Vasco acquired Cambridge-based technology company Cronto.[14] The patented CrontoSign solution uses specialized color bar codes, so-called Cronto Visual Cryptograms (or photoTAN), to mitigate MITB Trojan malware.[15]

The company established its international headquarters at Dubai Silicon Oasis in 2012. Vasco announced that it would lower EMEA channel entry for VARs at that time.

In 2014, the company acquired Risk IDS, Ltd., a provider of risk-based authentication solutions to the global banking community. By 2015, IDENTIKEY Risk Manager (IRM) was released as a comprehensive risk management solution to improve the methods and speed of organizations to detect fraud.[16]

In October 2015, Vasco acquired Silanis Technology, a Canadian document e-signature company, for US$113 million. By early 2016, the company's cloud electronic signature software, eSignLive, was updated to include integration with Salesforce. Vasco announced a face recognition authentication feature for Digipass in May 2016. The company has partnerships with financial institutions including HSBC Bank USA, Fedict, Rabobank, Arab Bank and Riyadh Bank.[17] [18] [19] [20] [21] The Company has been appointed to the FIDO Alliance board directors.[22]

On May 30, 2018, Vasco changed its name to OneSpan.[23] It now trades under the ticker symbol OSPN.

In May 2018, the company acquired Dealflo, a UK and Canada-based financial agreement automation software company, for GB41 million.[24]

In January 2023, OneSpan announced to acquire ProvenDB, an Australia-based startup that delivers secure storage and vaulting for documents based on blockchain technology.[25]

In June 2025, OneSpan acquired Nok Nok Labs.[26]

Notes and References

  1. Web site: OneSpan Reports Fourth Quarter and Full Year 2024 Financial Results. VASCO Data Security International. February 27, 2025. September 23, 2025.
  2. Web site: OneSpan Reports Fourth Quarter and Full Year 2024 Financial Results. VASCO Data Security International. February 27, 2025. September 23, 2025.
  3. Web site: OneSpan Reports Fourth Quarter and Full Year 2024 Financial Results. VASCO Data Security International. February 27, 2025. September 23, 2025.
  4. Web site: OneSpan Reports Fourth Quarter and Full Year 2024 Financial Results. VASCO Data Security International. February 27, 2025. September 23, 2025.
  5. News: Peripherals fill larger product vacuum at NCC. Computer World. June 22, 1987.
  6. Web site: 2022-07-28 . Spotlight OneSpan: Cybersecurity in its DNA . 2022-10-16 . Advisor Perspectives.
  7. Web site: Stock Worth Mentioning: Vasco Data Security International Inc. Kentucky Post News. Vivian. Park. October 28, 2016. November 18, 2016. November 19, 2016. https://web.archive.org/web/20161119055145/http://www.kentuckypostnews.com/2016/10/28/stock-worth-mentioning-vasco-data-security-international-inc-nasdaqvdsi-institutional-investor-sentiment-analysis/. dead.
  8. Web site: Belgium gets the market to solve authentication for free. Computer Weekly. Stadigs. Jenny. May 2015.
  9. Web site: Vasco Uses IPhone, IPod Touch for Authenticating Users . PC World. Mikael. Ricknäs. November 5, 2009.
  10. Web site: Turbo Techs: 25 Hottest Tech Stocks . Forbes. Paul M. Murdock. John J. Ray. January 29, 2009.
  11. Web site: VASCO Announces Acquisition of Authentication Storage Specialist Logico.
  12. Web site: VASCO Data Security International, Inc. Announces the Acquisition of DigiNotar B.V., a Market Leader in Internet Trust Services in The Netherlands. https://web.archive.org/web/20110917092647/http://www.vasco.com/company/press_room/news_archive/2011/acquisition_diginotar.aspx . 2011-09-17 .
  13. How a 2011 Hack You've Never Heard of Changed the Internet's Infrastructure . Slate . Josephine . Wolff . 21 December 2016 . October 18, 2018.
  14. Web site: VASCO Announces Acquisition of Cronto (United Kingdom).
  15. Web site: New system to combat online banking fraud.
  16. Web site: VASCO Announces IDENTIKEY Risk Manager with Powerful New Tools to Fight Banking Fraud.
  17. Web site: Montreal E-Signature Company Silanis Bought By Security Firm Vasco For $113 Million . Financial Post. Damon . Van Der Linde. November 26, 2015.
  18. Web site: VASCO updates e-sig software, IoT conference. SecureID News . Zach . Martin. May 26, 2016.
  19. Web site: VASCO Announces DIGIPASS Selfie Authentication System. Mobile ID World. Alex . Perala . May 5, 2016.
  20. Web site: Banks turn to smartphone tech to fight online fraud . Network World. Ellen. Messmer. February 13, 2014.
  21. Web site: Rabobank introduces QR code-based online banking authentication . FINextra. September 19, 2014.
  22. Web site: FIDO Alliance Appoints American Express, Infineon, and VASCO to Board of Directors. GlobalNewswire. October 14, 2015.
  23. News: Vasco buys digital ID company, changes name to OneSpan. Penny Crosman. American Banker. October 18, 2018. October 19, 2018. https://web.archive.org/web/20181019040907/https://www.americanbanker.com/news/vasco-buys-digital-id-company-changes-name-to-onespan. dead.
  24. News: VASCO Rebrands as OneSpan, and Grows with Dealflo Acquisition. FindBiometrics. October 18, 2018. October 19, 2018. https://web.archive.org/web/20181019003229/https://findbiometrics.com/vasco-onespan-dealflo-acquisition-506015/. dead.
  25. Web site: OneSpan to Acquire Document Storage Company ProvenDB.
  26. Web site: OneSpan Accelerates FIDO Leadership With Acquisition Of Nok Nok Labs. OneSpan. June 5, 2025 .

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