NemID operator Nets sold to international consortium – The Post

NemID operator Nets sold to international consortium

Advent International, ATP and Bain Capital will be the new owners

March 24th, 2014 10:19 am| by admin
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Nets has announced that it has been sold to an international consortium for 17 billion kroner, according to Børsen business newspaper.

The consortium – consisting of pension fund ATP, the US asset management firm Bain Capital, and the global private equity firm Advent International – purchased 100 percent of the company’s share capital.

Peter Lybecker, the head of Nets, said in a press release that he looked forward to co-operating with the company’s new owners as customers and strategic partners.

“I strongly believe that we have found a highly-qualified owner of Nets in the consortium consisting of Advent International, ATP and Bain Capital, which has the right balance of strong local roots and considerable global expertise within the payment systems sector,” Lybecker said.

READ MORE: Business minister can offer no guarantees over Nets

Northern European leaders
The deal is expected to be completed sometime in the second financial quarter of 2014 as it still requires the approval of the financial authorities. The consortium’s purchase price of 17 billion kroner translates to 92.37 kroner per share.

Nets, which is based in Copenhagen, is one of the leading providers of digital payment, information and ID solutions in northern Europe and employs 2,600 people in five countries, including Denmark, Sweden and Norway.

Aside from NemID, Nets operates the Dankort and the payment service Betalingsservice, and it also jointly owns e-Boks with the state postal service, Post Danmark.

It has been speculated that Nets had been looking for a potential buyer since June last year.