Veridos to become majority shareholder in NetSeT

Berlin, 30 January 2022 - Veridos has acquired a majority stake in NetSeT Global Solutions. The acquisition of the company, a developer of identity management systems, strengthens Veridos' position as a full-service provider of integrated identity solutions.

The Serbian company NetSeT is specialized in the development of complex information systems for the management of citizen data and information security. Veridos already took a minority stake in NetSeT in 2017. Now the company has increased its shares and will integrate NetSeT into the Veridos Group.

Veridos and NetSeT have been working together successfully for 20 years. In joint projects, the companies co-operated in providing the ID system for northern Macedonia, ePassport systems for Bangladesh, Venezuela and the United Arab Emirates, and a driver's license system for Uganda, among several others.

"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 opportunities for sustainable growth. We are very excited to continue this success story as part of the Veridos Group."