Alpha Corporate Finance has acted as the sole financial advisor to Beaufort Solutions AS in the transaction.

Beaufort Solutions is a Norwegian RegTech software company providing pure Software-as-a-Service (SaaS) solutions to automate AML/KYC compliance workflows. Their flagship product, Kjenn Din Kunde (KDK), is a leading workflow engine solution for KYC/AML.

BankID BankAxept is one of the fastest-growing players in the Norwegian market for anti-money laundering (AML) services, a wholly-owned subsidiary of Vipps MobilePay. This strategic acquisition enhances their commitment to combating financial crimes and strengthens their product innovation and market reach.

"The market for AML services is rapidly evolving. We see a clear need for consolidation and, together with Beaufort, have decided that now is the right time to move forward together," said Øyvind Brekke, CEO of BankID BankAxept. "We are delighted to bring the talented team at Beaufort on board. By combining our expertise, knowledge, and innovative power, we form a robust Norwegian entity capable of enhancing efforts, strengthening product innovation, and expanding into new markets."

Initially, Beaufort Solutions will operate as a wholly-owned subsidiary of BankID BankAxept, with plans for full integration into the Kundesjekk service in the future.