Banyan Software, a leading acquirer and permanent home for great software businesses, is excited to announce the acquisition of Mobile Identify (MID), a market-leading identity verification solution, from Phonovation Ltd, a provider of bulk SMS messaging solutions.
Based in Dublin, MID authenticates mobile banking users by verifying their identity through SIM card unique identifiers, thereby protecting some of Ireland’s largest retail banks and their customers from ‘Sim Swap’ fraud.
This carve-out allows Phonovation to concentrate on its core SMS messaging business while ensuring the continued growth and development of MID.
About Phonovation Ltd. Founded in 1988, Phonovation provides secure, reliable messaging and mobile identity services to help you grow your business. The company provides trusted messaging solutions via API or SMS self-services through our cloud-based services and instant mobile identity verification through its Mobile Identify solution. For more information, visit phonovation.com
About Banyan Software, Inc. Banyan Software provides the best permanent home for successful enterprise software companies, their employees, and customers. With a permanent capital base set up to preserve the legacy of founders, Banyan focuses on a buy and hold for life strategy for growing software companies. Founded in 2016, Banyan is backed by a world-class group of CEOs and investors with deep technology experience and currently operates across a growing number of verticals.
