Nymi Acquired by Innominds

Nymi Acquired by Innominds

Deal Financials :


Transaction Overview

  • On April 12, 2022 Innominds Software Inc. announced its acquisition of TBP client, Nymi Inc
  • Nymi is a Toronto-based provider of wearable authenticators along with a connected workplace platform. The company has marquee customers with a strong presence in pharmaceuticals, manufacturing, and financial services
  • Innominds specializes in digital transformations via autonomous AI and offers full-cycle product engineering services The company is based in San Jose, CA and has previously provided solution deployments for a multitude of global companies
  • Key investors in Nymi include Ignition Venture Partners, GII Tech, and Konica Minolta
  • Further details are available in the Company press release

Strategic Importance of the Transaction

  • Nymi has developed a connected worker software platform that enables devices such as wearables, smart phones and key fobs to provide passwordless, touchless, access to IT and OT networks, as well as access to secure physical locations
  • Nymi possesses a variety of biometric authentication technologies in connecting Nymi Band to secure access points
  • Innominds will improve its own offerings specifically via Nymi’s Connected Worker Platform, which improves workplace security and efficiency, while also adding agility to corporate digital transformations
  • Nymi’s platform offers a safe and simple UX, with security and privacy features built in, that connects the workforce from the factory floor to the C-suite
  • Nymi’s software solution enables IT-OT convergence with system access management across completley air-gapped networks, therby solving the OT’s multi domain problem
  • Nymi’s wearable, the Nymi Band, features numerous integrations with applications that support FIDO/PIV in order to create a unified enterprise identity ecosystem
  • Innominds also has a clear strategic benefit, as both companies possess expertise and capabilities in healthcare and BFSI verticals
  • This transaction indicates the potential for strategic transactions without a clear product or service overlap visible at first glance
  • Acquisitions such demonstrate the value of digital transformation coupled with platform deployments that can provide additional use cases in the future.

TBP Role

  • True Blue Partners was the exclusive financial advisor to Nymi in this transaction
  • Nymi engaged TBP in 2021 to help position the company in the M&A marketplace and deliver a great outcome
  • TBP negotiated a favorable transaction and meaningful roles in new organization for client
About True Blue Partners
True Blue Partners is a boutique M&A advisory firm that serves lower mid-market enterprise software, service and solutions companies. It brings the rigorous strategic and financial perspective of bulge bracket firms with a company building approach and a steadfast partnership that only an independent boutique firm can deliver. For more information please visit www.truebluepartners.com or email us at info@truebluepartners.com.

TBP was the exclusive financial advisor to Nymi on this transaction