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  5. Encompass Singapore Acquires Blacksmith KYC

M&A Deal Summary

Encompass Singapore Acquires Blacksmith KYC

On January 16, 2024, Encompass Singapore acquired business services company Blacksmith KYC from ING Groep

Acquisition Highlights
  • This is Encompass Singapore’s 1st transaction in the Business Services sector.
  • This is Encompass Singapore’s 1st transaction in Singapore.

M&A Deal Summary
Date 2024-01-16
Target Blacksmith KYC
Sector Business Services
Buyer(s) Encompass Singapore
Sellers(s) ING Groep
Deal Type Divestiture

Target

Blacksmith KYC

Singapore , Singapore
Blacksmith KYC is a provider of KYC processes for the financial industry. Blacksmith allows banks like ING to configure their Customer Due Diligence (CDD) requirements within a Digital Policy Manager. Blacksmith KYC was founded in 2017 and is based in Singapore.

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Buyer(S) 1

Buyer

Encompass Singapore

Singapore, Singapore
Category Company
Sector Business Services
DESCRIPTION

Encompass enables fast, accurate identity validation and verification of corporate customers, and a gold standard approach to KYC. Encompass is based in Singapore.

DEAL STATS #
Overall 2 of 2
Sector (Business Services) 1 of 1
Type (Divestiture) 2 of 2
Country (Singapore) 1 of 1
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-16 CoorpID

Amsterdam, Netherlands

CoorpID allows global banks to automate outreach and gather private KYC data directly from corporate banking customers, providing a repository that allows the corporate to manage all their banking relationships. For large multinationals, the platform makes it easy to store and structure KYC company documents and enables sharing with banks and business partners. CoorpID was founded in 2018 and is based in Amsterdam, Netherlands.

Buy -

Seller(S) 1

SELLER

ING Groep

Amsterdam, Netherlands
Category Company
Founded 1762
Sector Financial Services
Employees60,000
Revenue 22.4B USD (2023)
DESCRIPTION
ING branch in central Barcelona.
ING branch in central Barcelona.

ING Groep is a diversified financial services company offering banking, investment, life insurance, and retirement services products and services. ING has operations throughout Europe, North America, and Asia. ING Groep was founded in 1762 and is based in Amsterdam, the Netherlands.

DEAL STATS #
Overall 13 of 13
Sector (Business Services) 1 of 1
Type (Divestiture) 12 of 12
Country (Singapore) 1 of 1
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-16 CoorpID

Amsterdam, Netherlands

CoorpID allows global banks to automate outreach and gather private KYC data directly from corporate banking customers, providing a repository that allows the corporate to manage all their banking relationships. For large multinationals, the platform makes it easy to store and structure KYC company documents and enables sharing with banks and business partners. CoorpID was founded in 2018 and is based in Amsterdam, Netherlands.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-03 Van Lanschot Kempen

's-Hertogenbosch, Netherlands

Van Lanschot Kempen is a financial institution focused on providing private banking, asset management, and merchant banking services. Van Lanschot Kempen was formed in 1737 and is based in 's-Hertogenbosch, Netherlands.

Buy -
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