Signicat and Connectis join forces to create major European player on digital ID market
SIDN is selling its stake in Connectis
SIDN is selling its stake in Connectis
Signicat has acquired Connectis, one of the biggest security solution providers in the Netherlands, from SIDN and Stichting 2050. SIDN has been Connectis's majority shareholder since 2017. With roots in Norway, Signicat is a key player on Europe's online authentication and electronic signature market. Together, the companies aim to offer services to public and private-sector users in Scandinavia and throughout Europe.
With their joint capabilities in the field of reliable and secure authentication, digital signing and identity verification solutions, Signicat and Connectis are looking to strengthen their leading position in the European market. The two companies' services and customer bases dovetail perfectly. Signicat mainly provides identity solutions to corporate clients across Europe, including banks and financial service providers, insurers and e-commerce companies. Connectis operates primarily in the Netherlands as a trusted partner to organisations in the public sector, health care, energy, transport and financial services.
As well as acquiring our majority interest in Connectis, Signicat is buying out Stichting 2050, the foundation that Connectis founder Martijn Kaag transferred his shares to. SIDN bought Connectis in 2017, with the aim of giving a boost to the still developing digital identities market in the Netherlands. Since then, we have invested significantly in the company. Particular attention has been given to operational professionalisation, service enhancement and preparing Connectis for the next phase of its development. Signicat's acquisition of Connectis means the formation of a major European player with the unified experience, expertise and mass to drive accelerated adoption of high-grade online identification and achieve even greater social impact.
Connectis will retain its name and remain in Rotterdam, with the existing team continuing to serve the company's customers. Signicat currently has a team in The Hague, which will relocate to join the Rotterdam set-up later this year. Connectis CEO Jeroen de Bruijn will become General Manager of the combined Dutch operation. Over the coming months, Connectis and Signicat will be investigating the options for further integration of their product and service offerings.
In 2016, we observed a lack of dynamism in the development of online identification, despite the field's huge importance for the future of the internet. We therefore decided to use our expertise, our network, our experience and our capital to energise development and thus maximise our contribution to Dutch society and the Dutch economy. The acquisition of a majority stake in Connectis also formed an important part of our chosen long-term strategy and our aim of ultimately becoming less dependent on .nl. The acquisition immediately made us a major force on the digital identities market, in line with our ambition of contributing to the value, convenience and security of digital living for everyone.
The financial details of the transaction remain confidential for the time being.
Like all our other income, the money will be used to deliver added value for the Dutch and international internet communities in line with our mission. So we will of course continue investing in the security and stability of the .nl domain, as well as in research, in support for projects that have the potential to make the internet better, and in activities that the market has so far neglected. With the aim of optimising our impact.