Veridos Acquires Serbia-based Identity Management Specialist NetSeT

Veridos has acquired Serbia-based NetSeT Global Solutions, via a controlling stake in the identity management systems developer.

In announcing the move, Veridos noted that it has been working with NetSeT for two decades, with the companies having collaborated on joint projects around the world including the delivery of ePassport systems in Bangladesh, United Arab Emirates, and Venezual, as well as a driver’s license system for Uganda. Veridos described NetSeT as a specialist “in the development of complex information systems for the management of citizen data and information security.”

The acquisition should help to further reinforce Veridos as a major provider of identity solutions. The company claims clients across over 100 countries, and offers solutions ranging from chip components to mobile IDs to biometric identification systems.

Veridos was the overall coordinator of the European Union-funded D4FLY research program, aimed at developing and assessing innovative border control solutions, which concluded last summer. More recently, the company announced a partnership with Slovakia-based Innovatrics aimed at combining its VeriDNA solution with Innovatrics’ NIST-certified Automated Biometric Identification System (ABIS).

In announcing the NetSeT acquisition Veridos CEO Marc-Julien Siewert offered an ambitious rationale. “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,” he said.

For NetSeT’s part, CEO Zoran Savic called the companies’ longstanding collaboration “a great success story” that offered his firm access to global markets and an avenue to sustainable growth. “We are very excited to continue this success story as part of the Veridos Group,” he said.

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January 31, 2023 – by Alex Perala