French IN Groupe Takes Over Danish Digital ID Service from Nexiby Fintechnews Nordics November 13, 2023
Nexi has entered into an agreement with French IN Groupe which is to take over its eID business.
This acquisition is in line with the strategy of both groups: to reinforce IN Groupe’s role as European leader in digital identity, and further strengthen the position of Nexi as the leading European PayTech.
Nexi has entered into an agreement with IN Groupe, a specialist in identity and secure digital services, who will take over the ownership of the eID business.
IN Groupe is a global specialist in identity and trust solutions providing comprehensive solutions that address a broad variety of digital identity challenges and enabling both corporates and consumers/citizens to benefit from the digital transformation in a simple and secure manner.
“Nexi has, via its ownership of Nets, managed to develop an industry-leading identity and trust solutions in Denmark which has contributed to making Nordic societies the most digitised in the world. As a provider of a trusted digital infrastructures, we understand how critical it is to deliver stable, resilient, and secure services. Combining Nexi’s eID capabilities with our own will enhance our ability to support our customers throughout Europe as they have to embrace new regulations rapidly coming into play such as eIDASv2 and NIS2.”
Didier Trutt, Chairman and CEO from IN Groupe
“We want to expand digital payments in Europe and broaden our presence as provider of digital payment solutions. As this requires that we focus our investments within the payments space we have reviewed the possibilities to divest our eID business. Our main objective was to find a future owner that will maintain and develop our eID solutions to the same high standards we have applied. In IN Groupe, we could not have found a better home for our eID business, and our customers and citizens can expect a provider of critical digital infrastructure who – better than us – can continue to develop the solutions to the benefit of its clients.”
Torsten Hagen Jørgensen, Global Head of Issuing Solutions in Nexi
The completion of the transaction is subject to customary closing conditions and the authorisation of the Danish government on the suitability and capabilities of IN Groupe as their continued eID solution provider.
Today Nets/Nexi provides an array of trust services in Nordics and key parts of the eID infrastructure in Denmark, MitID and NemLogin, which serves as a personal entrance key to both the public sector and most parts of the private sector, e.g. banks.