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Veridos becoming majority shareholder in NetSeT

Veridos becoming majority shareholder in NetSeT

BERLIN – Veridos has announced their acquisition of a majority stake in NetSeT Global Solutions, an information security company.

Veridos says the acquisition will strengthen their position as a full-service provider of integrated identity solutions. Veridos previously took a minority stake in NetSeT back in 2017 and have been developing joint projects successfully for 20 years. With its increased shares they will now integrate NetSeT into the Veridos Group.

"We warmly welcome NetSeT to our group of companies," explains Marc-Julian Siewert, CEO of Veridos. "With this acquisition, we are expanding our position as a provider of holistic identity solutions to cover the entire value chain: from citizen registration to the creation and personalization of ID documents and the management of citizen data to document verification."

Zoran Savic, CEO, co-owner and founder of NetSeT Global Solutions, adds: "Our collaboration with Veridos is a great success story. It has provided NetSeT with access to global markets and the opportunity for sustainable growth. We are very excited to continue this success story as part of the Veridos Group."

Successful collaboration between the two groups provided the ID system for North Macedonia, ePassport systems for Bangladesh, Venezuela and the United Arab Emirates, and a driver's license system for Uganda, among several other projects.

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