View source for OneSpan

{{short description|American cybersecurity technology company}}
{{advert|date=May 2019}}
{{Infobox company
| name = OneSpan Inc.
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| native_name_lang = <!-- Use ISO 639-1 code, e.g. "fr" for French. For multiple names in different languages, use {{Lang|[code]|[name]}}. -->
| former_name = Vasco Data Security International, Inc.
| type = [[Public company|Public]]
| traded_as = {{ubl|{{NASDAQ|OSPN}}|[[Russell 2000]] component}}
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| industry = {{ubl|[[Software]]|[[Computer security]]}}
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| founded = {{Start date and age|1984}}
| founder = T. Kendall Hunt
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| hq_location = {{nowrap|[[Boston, Massachusetts]], U.S.}}
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| key_people = T. Kendall Hunt ([[chairman]])<br>Victor Limongelli ([[Chief executive officer (interim)|CEO]])
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| revenue = $193.3 million
| revenue_year = 2017
| operating_income = $6.2 million{{cn|date=June 2019}}
| income_year = 2017
| net_income = $22.9 million{{cn|date=June 2019}}
| net_income_year = 2017
| assets = $337 million{{cn|date=June 2019}}
| assets_year = 2017
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| num_employees = 613
| num_employees_year = 2016<ref>{{cite web|url=https://www.sec.gov/Archives/edgar/data/1044777/000119312517078799/d363884d10k.htm|title=VASCO Data Security International, Inc. Form 10-K|publisher=VASCO Data Security International|date=December 31, 2016|access-date=September 14, 2017}}</ref>
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| website = {{URL|https://onespan.com}}
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'''OneSpan Inc.''' (formerly '''Vasco Data Security International, Inc.''') is a publicly traded [[cybersecurity]] technology company based in [[Boston]], Massachusetts, with offices in [[Montreal]], [[Brussels]] and [[Zurich]]. The company offers a cloud-based and open-architected anti-fraud platform and is historically known for its multi-factor authentication and [[electronic signature]] software.<ref>{{cite news|url=https://globenewswire.com/news-release/2018/05/30/1513841/0/en/VASCO-Transforms-Business-Enablement-with-Launch-of-New-Anti-Fraud-Platform-Renames-Company-OneSpan.html|title=VASCO Transforms Business Enablement with Launch of New Anti-Fraud Platform, Renames Company OneSpan|publisher=GlobalNewsWire|accessdate=October 18, 2018}}</ref><ref>{{Cite web |date=2022-07-28 |title=Spotlight OneSpan: Cybersecurity in its DNA |url=https://www.advisorperspectives.com/commentaries/2022/07/28/spotlight-onespan-cybersecurity-in-its-dna}}</ref>
It was founded by T. Kendall Hunt in 1991 and held its [[initial public offering]] (IPO) in January 2000. OneSpan is a member of the [[FIDO Alliance|FIDO Alliance Board]].<ref>{{cite web|url=http://www.investingdaily.com/21804/what-2015-holds-for-cybersecurity-stocks/|title=What 2015 Holds for Cybersecurity Stocks|publisher=Investing Daily|first=Chad |last=Fraser|date=December 24, 2014}}</ref><ref>{{cite web|url=http://searchsecurity.techtarget.com/feature/The-fundamentals-of-MFA-Comparing-the-top-multifactor-authentication-products|title=Comparing the Top Multifactor Authentication Vendors|publisher=TechTarget|first=David|last=Strom}}</ref>
==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.<ref>{{cite news|title=Peripherals fill larger product vacuum at NCC|publisher=Computer World|date=June 22, 1987}}</ref><ref>{{Cite web |date=2022-07-28 |title=Spotlight OneSpan: Cybersecurity in its DNA |url=https://www.advisorperspectives.com/commentaries/2022/07/28/spotlight-onespan-cybersecurity-in-its-dna |access-date=2022-10-16 |website=Advisor Perspectives}}</ref>
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.<ref>{{cite web|url=http://www.kentuckypostnews.com/2016/10/28/stock-worth-mentioning-vasco-data-security-international-inc-nasdaqvdsi-institutional-investor-sentiment-analysis/|title=Stock Worth Mentioning: Vasco Data Security International Inc|publisher=Kentucky Post News|first=Vivian|last=Park|date=October 28, 2016|access-date=November 18, 2016|archive-date=November 19, 2016|archive-url=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/|url-status=dead}}</ref>
[[File:Vasco Digipass 250, branded Rabobank-6688.jpg|thumb|Vasco Digipass 250, branded RaboDirect]]
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 (iOS)|App Store]] for [[iPhone]] and [[iPod Touch]]. ''[[Forbes]]'' recognized Vasco on its list of "America's Fastest-Growing Tech Companies" that year.<ref>{{cite web|url=http://www.computerweekly.com/feature/Belgium-gets-the-market-to-solve-authentication-for-free|title=Belgium gets the market to solve authentication for free| publisher=Computer Weekly|first=Stadigs|last=Jenny|date=May 2015}}</ref><ref>{{cite web|url=http://www.pcworld.com/article/181498/article.html|title=Vasco Uses IPhone, IPod Touch for Authenticating Users |publisher=PC World|first=Mikael|last=Ricknäs|date=November 5, 2009}}</ref><ref>{{cite web|url=https://www.forbes.com/forbes/2009/0216/048b.html|title=Turbo Techs: 25 Hottest Tech Stocks |work=Forbes|author1=Paul M. Murdock|author2=John J. Ray|date=January 29, 2009}}</ref>
In 2006, Vasco acquired LOGiCO Smart Card Solutions, a privately-owned company located in Austria offering [[smart card]]–based authentication and [[Public_key_infrastructure|PKI]] solutions.<ref>{{cite web|url=https://www.onespan.com/about/news/nw20060516vasco-announces-acquisition-authentication-storage-specialist-logico|title=VASCO Announces Acquisition of Authentication Storage Specialist Logico}}</ref>
In January 2011, Vasco acquired [[DigiNotar]], a Dutch certificate authority.<ref>{{cite web |url=http://www.vasco.com/company/press_room/news_archive/2011/acquisition_diginotar.aspx |archiveurl=https://web.archive.org/web/20110917092647/http://www.vasco.com/company/press_room/news_archive/2011/acquisition_diginotar.aspx |archivedate=2011-09-17 |title=VASCO Data Security International, Inc. Announces the Acquisition of DigiNotar B.V., a Market Leader in Internet Trust Services in The Netherlands}}</ref> 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.<ref>{{cite journal |url=http://www.slate.com/articles/technology/future_tense/2016/12/how_the_2011_hack_of_diginotar_changed_the_internet_s_infrastructure.html |title=How a 2011 Hack You've Never Heard of Changed the Internet's Infrastructure |journal=Slate |first=Josephine |last=Wolff |date=21 December 2016 |accessdate=October 18, 2018}}</ref>
In 2013, Vasco announced its acquisition of the Cambridge-based technology company Cronto.<ref>{{cite web |url=https://www.onespan.com/about/news/vasco-announces-acquisition-cronto-united-kingdom|title=VASCO Announces Acquisition of Cronto (United Kingdom)}}</ref> The patented CrontoSign solution uses specialized color bar codes, so-called Cronto Visual Cryptograms (or photoTAN), to mitigate [[Man-in-the-browser|MITB]] Trojan malware.<ref>{{cite web |url=https://www.cam.ac.uk/research/news/new-system-to-combat-online-banking-fraud|title=New system to combat online banking fraud}}</ref>
The company established its international headquarters at [[Dubai Silicon Oasis]] in 2012. Vasco announced that it would lower [[Europe, the Middle East and Africa|EMEA]] channel entry for [[Value-added reseller|VARs]] at that time. It became a member of the Fast IDentity Online (FIDO) Alliance in June 2014 and was later recognized by Gartner's Magic Quadrant for User Authentication.<ref>{{cite web |url=http://www.prnewswire.com/news-releases/gartner-recognizes-vasco-data-security-in-leaders-quadrant-in-magic-quadrant-for-user-authentication-242346061.html |title=Gartner Recognizes VASCO Data Security in Leaders Quadrant in Magic Quadrant for User Authentication |publisher=PR Newswire |date=January 28, 2014}}</ref><ref>{{cite web |url=http://www.itp.net/587912-vasco-sets-up-new-offices-in-silicon-oasis|title=Vasco sets up new offices in Silicon Oasis |publisher=ITP.net|first=Georgina|last=Enzer|date=February 12, 2012}}</ref><ref>{{cite web |url=http://www.channelweb.co.uk/crn-uk/news/2037786/vasco-seeks-bring-clarity-emea-channel-scheme|title=Vasco seeks to bring clarity to EMEA channel scheme |publisher=CRN|first=Sam|last=Trendall|date=March 28, 2011}}</ref><ref>{{cite web|url=http://www.prnewswire.com/news-releases/vasco-joins-fido-alliance-board-of-directors-300159404.html|title=VASCO Joins FIDO Alliance Board of Directors|publisher=PR Newswire|date=October 14, 2015}}</ref>
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.<ref>{{cite web|url=https://www.onespan.com/about/news/vasco-announces-identikey-risk-manager-powerful-new-tools-fight-banking-fraud|title=VASCO Announces IDENTIKEY Risk Manager with Powerful New Tools to Fight Banking Fraud}}</ref>
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]].<ref>{{cite web|url=http://business.financialpost.com/fp-tech-desk/montreal-e-signature-company-silanis-bought-by-security-firm-vasco-for-113-million?__lsa=f816-24b7|title=Montreal E-Signature Company Silanis Bought By Security Firm Vasco For $113 Million |publisher=Financial Post|first=Damon |last=Van Der Linde|date=November 26, 2015}}</ref><ref>{{cite web|url=http://www.secureidnews.com/news-item/vasco-updates-e-sig-software-iot-conference/ |title=VASCO updates e-sig software, IoT conference| publisher=SecureID News |first=Zach |last=Martin|date=May 26, 2016}}</ref><ref>{{cite web|url=http://mobileidworld.com/vasco-announces-digipas-105053/|title=VASCO Announces DIGIPASS Selfie Authentication System|publisher=Mobile ID World|first=Alex |last=Perala |date=May 5, 2016}}</ref><ref>{{cite web|url=https://www.networkworld.com/article/687042/malware-cybercrime-banks-turn-to-smartphone-tech-to-fight-online-fraud.html|title=Banks turn to smartphone tech to fight online fraud |publisher=Network World|first=Ellen|last=Messmer|date=February 13, 2014}}</ref><ref>{{cite web|url=https://www.finextra.com/news/fullstory.aspx?newsitemid=26473|title=Rabobank introduces QR code-based online banking authentication |publisher=FINextra|date=September 19, 2014}}</ref>
===OneSpan===
On May 30, 2018, Vasco changed its name to OneSpan.<ref>{{cite news|url=https://www.americanbanker.com/news/vasco-buys-digital-id-company-changes-name-to-onespan|title=Vasco buys digital ID company, changes name to OneSpan|author=Penny Crosman|publisher=American Banker|accessdate=October 18, 2018|archive-date=October 19, 2018|archive-url=https://web.archive.org/web/20181019040907/https://www.americanbanker.com/news/vasco-buys-digital-id-company-changes-name-to-onespan|url-status=dead}}</ref> 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 GB{{GBP}}41 million.<ref>{{cite news|url=https://findbiometrics.com/vasco-onespan-dealflo-acquisition-506015/|title=VASCO Rebrands as OneSpan, and Grows with Dealflo Acquisition|publisher=FindBiometrics|accessdate=October 18, 2018}}</ref>
In January 2023, OneSpan announced to acquire [https://www.provendb.com/ ProvenDB], an Australia-based startup that delivers secure storage and vaulting for documents based on blockchain technology.<ref>{{cite web|url=https://finovate.com/onespan-to-acquire-document-storage-company-provendb/|title=OneSpan to Acquire Document Storage Company ProvenDB}}</ref>
==Technology==
* Identity Verification: validate ID documents and consumer identities via third-party identity and verification services through a single API integration<ref name=crn>[https://www.crn.com/news/security/300104306/vasco-data-security-changes-name-to-onespan-pays-55m-for-identity-verification-vendor.htm Vasco Data Security Changes Name To OneSpan, Pays $55M For Identity Verification Vendor]</ref>
* Authentication: authenticate users and transactions using a range of multi-factor authentication services, including hardware & software tokens and biometric capabilities<ref>[https://www.biometricupdate.com/201811/javelin-strategy-research-honors-daon-and-onespan-with-mobile-biometrics-platform-awards Javelin Strategy & Research honors Daon and OneSpan with Mobile Biometrics Platform awards]</ref>
* Risk Analytics: analyze mobile, app and transaction data, in real-time, to detect fraud<ref>{{cite news|url=https://www.prnewswire.com/news-releases/vasco-announces-identikey-risk-manager-with-powerful-new-tools-to-fight-banking-fraud-300103174.html|title=VASCO Announces IDENTIKEY Risk Manager with Powerful New Tools to Fight Banking Fraud|publisher=PRNewsWire|accessdate=October 18, 2018}}</ref>
* Mobile App Security: detect and mitigate malicious mobile app attacks before they can do damage<ref>{{cite news|url=https://www.itnews.com.au/news/vasco-offers-two-factor-authentication-via-mobile-phone-146095|title=Vasco offers two-factor authentication via mobile phone|publisher=IT News|accessdate=October 18, 2018}}</ref>
* E-Signature: enable customers to e-sign on any device, while strengthening compliance<ref>[https://globenewswire.com/news-release/2018/10/22/1624884/0/en/OneSpan-to-Demonstrate-Innovations-in-Cloud-Based-Risk-Analytics-Blockchain-and-Digital-Account-Opening-at-Money-20-20-USA-2018.html OneSpan to Demonstrate Innovations in Cloud-Based Risk Analytics, Blockchain and Digital Account Opening at Money 20/20 USA 2018]</ref>
Services are delivered through OneSpan's open, cloud-based Trusted Identity (TID) platform<ref name=crn></ref>
==References==
{{reflist|33em}}
==External links==
*{{Official website|https://www.onespan.com}}
{{Finance links
| name = OneSpan Inc.
| symbol = OSPN
| reuters = OSPN.O
| bloomberg = OSPN:US
| sec_cik = 1044777
| yahoo = OSPN
| google = OSPN:NASDAQ
}}
[[Category:Oakbrook Terrace, Illinois]]
[[Category:Technology companies established in 1984]]
[[Category:Computer security companies]]
[[Category:Companies based in DuPage County, Illinois]]
[[Category:Companies listed on the Nasdaq]]
[[Category:1984 establishments in Illinois]]