By bringing together Signaturit and Namirial, two key players in Digital Transaction Management (DTM), Bain Capital and PSG Equity sign an emblematic operation of the consolidation movement that has been taking place for several years in the field of electronic signature in Europe. This rapprochement gives birth to a group of 1,400 employees, with 240,000 customers, with an assertive presence in France, Italy, Spain and Germany. Beyond the critical size reached, the operation reflects a broader tilting: electronic signature is no longer a peripheral service, but a strategic base of European digital.
A fragmented market … but mature for aggregation
Historically, the European DTM market has grown in a burst. With the exception of a few cross-border players such as Docusign or Adobe Sign, the majority of companies on the market are national champions, well established locally, but limited in their ability to impose themselves beyond their borders. Signaturituit, Universign, Yousign, Skribble, Netheos and Vialink first built their legitimacy on verticals or local markets, often linked to standards specific to each Member State.
With the implementation of the EIDAS regulation and the emergence of a harmonized certification framework (qualified trusted service providers, PVVI, EID WALLET), the competitive landscape is evolving rapidly. The electronic signature becomes a structuring component of contractual and administrative relations in the EU, in the same way as digital identity or electronic invoicing. In a word: the market is standardized, and it becomes possible, not to say necessary, to reach a European scale.
Funds in walking order
The funds of Private Equity have understood this, Bain Capital, Ambienta and PSG Equity orchestrate a strategic rapprochement here, combining product expertise, geographic complementarity and regulatory alignment. Max Pellegrini, CEO of Namirial, says: ” In an increasingly digital environment, safety and compliance requirements are strengthening. DTM solutions have become essential. »»
This consolidation movement is also observed in other actors: Universign has been absorbed by signaturit, as is Vialink. For its part, Yousign has raised more than 30 million euros to accelerate its European growth. This model of “software build-ups”, controlled by specialized funds, is based on a strategy for aggregating technological bricks and customer bases to build a one-stop shop, capable of competing with American giants.
Industrial logic, not just financial
DTM is not limited to electronic signature. It encompasses the entire life cycle of digital transactions: onboarding, identity verification, kyc, horoditing, archiving, invoicing. The rapprochement between Namirial and Signaturitus illustrates this extension of the functional perimeter. Signaturituit has multiplied by ten its arr for 2020, expanding its offer far beyond the signature. Namirial, for its part, is already present in 85 countries and provides qualified archiving and electronic invoicing services.
Pierre Feligioni, CEO of signaturité, sums up the stake: “Together, we have a great opportunity for innovation and international expansion. The platform thus constituted aims to meet the growing needs of large European companies, which seek to make their processes reluctantly and simplify their processes in a unified regulatory framework.
Towards digital sovereignty by the product
The current dynamics in the DTM reflect a broader ambition, that of building European digital champions, aligned on the requirements of sovereignty, compliance and security. It is no coincidence that shareholders highlight their desire to “shape the future of digital transactions” (Giancarlo Beraudo, Ambienta) or “invest in digital trust technologies” (Giovanni Camera, Bain Capital).
