Nets enters into an agreement to divest its eID business to IN Groupe
Nets (part of the Nexi Group) has entered into an agreement with In Groupe to divest its eID business. The eID business consists of a range of identity solutions and services, including MitID, NemLog-in, as well as trust and broker services. Plesner acted as legal counsel for Nexi Group.
The core business of the divested eID business is the continued operation and development of MitID and NemLog-in.
Nexi is a public listed Italian company and is among Europe's leading PayTech firms, supporting the digital economy and the overall payment system globally across a wide range of payment channels and methods. In the fall of 2022, on the capital markets day, Nexi presented its new strategy, which includes an increased focus on digital payments in Europe. Consequently, Nexi has decided to enter into an agreement to divest its eID business to a buyer capable of continuing the operation and development of the eID business.
IN Groupe is a French state-owned company specialised in digital identity solutions (eID), cyber and data security. With a history spanning over 500 years back, In Groupe is a trusted provider of services and technologies to governments, businesses, and citizens in France and worldwide.
The completion of the transaction is subject to regulatory approvals and is expected to be completed in the summer of 2024.