Tech & Product DD | Acquisition | Code & Co. advises IDNow on Trust Management AG
Tech & Product DD
Digital Identity & Authentication

Code & Co. advises IDnow as it acquires identity Trust Management AG and takes another significant step towards becoming one of the leading identity platforms in Europe.

Code & Co. provides Tech & Product DD to IDnow on its acquisition of identity Trust Management AG, an international provider of digital and offline identification solutions and a leading technology and software provider of certified identification processes for individuals and legal entities.

Munich/Dusseldorf ,
  • Trust Management AG offers eIDAS compliant, certified and privacy compliant KYC processes for all industries
  • The acquisition merges IDnow’s innovative technology with identity Trust Management AG’s diverse set of capabilities and will ultimately provide clients with a unique, one-stop solution for identity verification.
  • IDnow’s portfolio includes over 300 international clients, spans a wide range of industries, and includes leading international players such as Western Union, UBS, Commerzbank, and Sixt.
  • Code & Co. led Tech & Product DD for IDnow.

IDnow platform provides a broad portfolio of identity verification solutions, ranging from automated to human-assisted, from purely online to point-of-sale – each of them optimized for user conversion rates and security.
identity Trust Management AG provides identification and eIDAS compliant QES services on the basis of Full Service and Software-as-a-Service. Its customers include market leaders such as Deutsche Telekom, GMX, BMW, VW, Audi, and Telefonica.

Code & Co. first encountered IDnow during the course of a $40m dollar growth investment for the company itself back in 2019. This time around, IDNow was on the other side of the table and turned to Code & Co. for Tech & Product DD to determine if its acquisition of identity TM AG would help it fulfill its goal of creating a differentiated identity verification platform.

In particular, Code & Co. assessed Trust Management AG’s product, technology, and engineering capabilities with a focus on the company’s value proposition when it comes to expanding into new industry verticals and providing services to a broader customer base throughout Germany and beyond.

This transaction underlines Code & Co.’s position as a market-leading technology and product advisor for acquisitions across the globe. It further highlights Code & Co.’s extensive sector expertise in highly complex technical and operational sectors of the global digital economy.


Code & Co. is an independent advisory firm specialized in advising funds in the global alternative investment industry. Our expertise is modern and holistic technology and product due diligence. From outside-in audits and confirmatory due diligence to portfolio audits, exit preparation, and vendor due diligence, we provide our clients with crucial insight across the entire investment life cycle.