Oura, the company behind the smart ring that delivers personalised health data, insights, and daily guidance, has announced the acquisition of digital identification startup Proxy, in an all-equity deal.
Proxy offers digital identity signal technology that aims to replace keys, cards, badges, apps, and passwords, aiming to advance data privacy. The startup has been working to include its offerings on wearable devices as well as phones.
The acquisition of Proxy, coupled with the previously acquired smart reign patient portfolio, will accelerate the company’s ability to innovate and expand its smart ring technology. In the acquisition announcement, Oura also said that health data privacy is another component of the Proxy deal.
"This deal expands ŌURA’s leadership in health wearables and signals our ambitions to integrate digital identity technology with our existing hardware and software offerings," Oura CEO Tom Hale said in a statement. "We are thrilled to collaborate with the innovative Proxy team to expand our addressable market, paving the way for new opportunities in areas such as payments, access, security, identity and beyond, fueling future growth."
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