OneSpan Inc. (NASDAQ: OSPN) has announced a definitive agreement to acquire Build38, a mobile application protection solutions provider, aiming to expand OneSpan’s mobile security portfolio with SDK-based security, in-app, cloud, and AI technologies.
OneSpan anticipates that the acquisition will enhance its existing App Shielding offering by providing advanced protection against increasing mobile attacks and delivering critical intelligence on device-level threats. This move is designed to address the growing demand from banks and financial institutions for robust security in digital channels, especially as AI-driven attacks and mobile threats become more prevalent.
The integration of Build38’s SDK-based Runtime Application Self-Protection (RASP) technology is expected to strengthen OneSpan’s mobile security offerings, enabling deeper in-app protection for applications and devices and contributing to a more secure digital experience for customers. Build38 is recognized as a Sample Vendor in the Gartner® Hype Cycle™ for Application Security, 2025.
Build38 is noted for its leadership in Europe in securing mobile identities, including EUDI wallets, healthcare, and citizen applications. Its industry expertise and compliance with rigorous certifications are intended to complement OneSpan’s strategy in delivering security solutions.
Victor Limongelli, CEO of OneSpan, stated that the company’s objective is to provide financial institutions with comprehensive protection for customer interactions, encompassing strong authentication, transaction signing, application protection, and fraud detection. He highlighted Build38’s technology, which currently protects over 250 million endpoints and its SDK’s ability to embed next-generation RASP protection within mobile apps, offering detailed data on mobile devices and threats. Limongelli added that this acquisition positions OneSpan to address the surge in mobile threats and the market’s shift towards embedded security and AI-driven defenses.
Dr. Christian Schläger, CEO of Build38, commented that the company was founded to redefine mobile application security through next-generation RASP, combining cloud-delivered services and AI innovation. He believes that joining OneSpan will enable the company to scale its vision globally and provide protection to banks and businesses requiring high security standards.
This acquisition follows OneSpan’s recent strategic initiatives, including the June 2025 acquisition of Nok Nok Labs Inc. for passwordless authentication and a strategic investment in ThreatFabric in October 2025 to enhance fraud prevention.
The transaction is expected to close by March 2026, pending regulatory approvals and other customary closing conditions. Build38, founded in 2019 as a spin-off of Giesecke+Devrient, provides mobile app security solutions across industries such as mobile banking, payments, and mobile ID. OneSpan provides secure authentication, identity, electronic signature, and digital workflow solutions, serving over 60% of the world’s 100 largest banks across more than 100 countries.