Avast To Acquire U.S.-based Self-sovereign Identity Pioneer Evernym

Prague-based Avast (AVST), a global provider of digital security and privacy, on Thursday announced the acquisition of privately held Evernym, a U.S.-based software company that develops decentralized, self-sovereign identity applications.

Financial details of the deal are not disclosed. The acquisition is expected to close in mid-December and the general availability of the products based on the Evernym technology would follow in 2022.

Evernym's ground-breaking approach to digital identity provides consumers with autonomy over their online presence by keeping their personal information with them and out of centralized databases. Awarded 'Technology Pioneer 2021' by the World Economic Forum, Evernym is already embedded in industries such as travel and finance where Evernym's technology is at the heart of the IATA (International Air Transport Association) Travel Pass, and also powers Bonifi's 'MemberPass' solution for community financial institutions.

Shares of Avast are currently trading at 614 pounds, up 2.60 pounds or 0.43 percent from previous close.

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