June 4, 2021
FastPassCorp and partner KSS of UK join forces to increase customer value
The leader in Self-Service Password Reset (SSPR) and Identity Verification solutions FastPassCorp takes over the British distributor Knowledge Secure Systems Ltd (KSS) in an equity-based transaction. Owners and management of the two companies see great value for customers, employees, and investors in the transaction.
Thanks to the results of KSS, the British market is the greatest single territory for FastPassCorp. KSS has developed and operates the unique FastPass Cloud, which has proven to be a success for KSS’ customers. As UK now is ready to look forward again after the Brexit and COVID years, the management groups of the two companies agreed that growth and success in UK best can be achieved by a larger organization with stronger financial resources.
For FastPass customers in UK it means access to more resources and support and an even closer contact with FastPassCorp. For FastPass customers outside UK it means direct access to the FastPass Cloud and other services developed by KSS. For our service and sales partners world-wide it means a larger and more responsive organization.
The acquisition will take place the 1st of June from which date KSS will change name to: FastPassCorp UK Ltd. The acquisition is paid by equity in Nasdaq listed FastPassCorp – split between initial amount and an earn-out model.
Owner and manager of KSS Nigel Beresford:
“With Business confidence in the UK rising the timing is right for us to join forces with FastPassCorp. It will improve our competitiveness and enable us to leverage our high-quality Cloud offering for FastPass world-wide. I’m sure we will be successful and I’m happy to share the success of FastPassCorp”.
CEO of FastPassCorp Finn Jensen:
“We have always had very strong ties with KSS, and it now seems that we are completing a natural transaction. I have always been impressed by the quality of employees and customers in UK and look forward to being part of the future growth for FastPass in UK. I’m sure that customers, employees and investors all will benefit from this”.