Oct 17, 2024
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Norway
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Norway
Buypass, the Norwegian software provider specializing in electronic ID and payment solutions, has joined Total Specific Solutions (“TSS”). This is the second TSS company in Norway following Hi! TechMobility.
Buypass is a leading provider of digital account management, ID and authentication, and payment handling. The company has developed a unique ID and payment solution for sustainable lottery operations in collaboration with Norsk Tipping, Buypass's largest customer. Buypass has also leveraged its ID and authentication solutions and has emerged as a leader in Norway’s trust service market, offering a solution portfolio that meets the most stringent security needs of both private enterprises and governments.
Birthe Elkjaer, General Manager at TSS: "In Norway, 2.3 million people have a Buypass ID for easy and secure identification and payment. The solution ensures the transactions are safe and secure as more business is performed online, whether B2C or B2B. Buypass is one of the leading companies in this area, and we are excited that it has joined TSS. Buypass has focused on specific verticals such as healthcare, sports, local government, legal & accounting, and lottery. Its solutions are based on modern technology and European standards and have a good user experience. As a dedicated software group, we have the knowledge and insights to help Buypass, as an independent company within TSS Nordics, continue its growth path.
I look forward to helping the Buypass team become familiar with TSS and sharing our knowledge and best practices with them."
Gunnar Lindstøl, Managing Director of Buypass: “It is an exciting new chapter for us, becoming part of TSS Nordics. We were looking for a new owner and found that in TSS, a software group specializing in building successful software companies. Being an independent business unit of TSS will give us new insights and energy to continue our growth as a software provider.
My team and I look forward to working with Birthe and the TSS colleagues and taking our next step as a company.”
Geir Remman, chairman of Buypass and Tietoevry's representative: “It was time for each company to focus on its core business, which meant finding a new owner for Buypass. We have built that from the ground up, so we were vested in finding the right owner. TSS is a perpetual owner, meaning they buy once and hold forever.
It is also a dedicated software group that understands how software companies work and how each vertical has its requirements. Plus, TSS has a solid financial status. Buypass will continue its operations carrying its carefully built brand, which its employees and customers will value.”
Stein Willy Andreassen, CFO of Norsk Tipping, says: “Buypass has shown firm development in markets that are not part of the delivery to Norsk Tipping and has ambitions for further growth in these fields. This is the time to exchange ownership. In our opinion, TSS will be a solid owner that will be able to support Buypass in its further development.”
Buypass
Buypass was established in 2001 and has been developed in close collaboration with Norsk Tipping and TietoEvry, which have been 50/50 owners since the company’s inception. Norsk Tipping is a Norwegian state-owned lottery and gaming company with profits primarily used to fund sports, culture, and humanitarian organizations in Norway. TietoEvry is a Nordic-based IT services and software company that provides digital consulting, cloud solutions, and IT services to businesses and public sector organizations globally. Buypass offers a complete portfolio of services for identifying and encrypting information throughout the electronic value chain. It is Norway's only issuer of internationally approved SSL certificates, and 2.3 million Norwegians have a Buypass ID for easy identification and payment.
Today, Buypass constitutes one of the largest Norwegian competence environments for developing user-friendly solutions that satisfy the market and the authorities' strictest security requirements.
If you are an owner of a Vertical Market Software company and you would like to know more about joining TSS, please contact:
Tobias Risom
M&A Manager
Telephone: +45 6060 8473
Email: t.risom@tss-vms.com
www.buypass.no
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Buypass is a leading provider of digital account management, ID and authentication, and payment handling. The company has developed a unique ID and payment solution for sustainable lottery operations in collaboration with Norsk Tipping, Buypass's largest customer. Buypass has also leveraged its ID and authentication solutions and has emerged as a leader in Norway’s trust service market, offering a solution portfolio that meets the most stringent security needs of both private enterprises and governments.
Birthe Elkjaer, General Manager at TSS: "In Norway, 2.3 million people have a Buypass ID for easy and secure identification and payment. The solution ensures the transactions are safe and secure as more business is performed online, whether B2C or B2B. Buypass is one of the leading companies in this area, and we are excited that it has joined TSS. Buypass has focused on specific verticals such as healthcare, sports, local government, legal & accounting, and lottery. Its solutions are based on modern technology and European standards and have a good user experience. As a dedicated software group, we have the knowledge and insights to help Buypass, as an independent company within TSS Nordics, continue its growth path.
I look forward to helping the Buypass team become familiar with TSS and sharing our knowledge and best practices with them."
Gunnar Lindstøl, Managing Director of Buypass: “It is an exciting new chapter for us, becoming part of TSS Nordics. We were looking for a new owner and found that in TSS, a software group specializing in building successful software companies. Being an independent business unit of TSS will give us new insights and energy to continue our growth as a software provider.
My team and I look forward to working with Birthe and the TSS colleagues and taking our next step as a company.”
Geir Remman, chairman of Buypass and Tietoevry's representative: “It was time for each company to focus on its core business, which meant finding a new owner for Buypass. We have built that from the ground up, so we were vested in finding the right owner. TSS is a perpetual owner, meaning they buy once and hold forever.
It is also a dedicated software group that understands how software companies work and how each vertical has its requirements. Plus, TSS has a solid financial status. Buypass will continue its operations carrying its carefully built brand, which its employees and customers will value.”
Stein Willy Andreassen, CFO of Norsk Tipping, says: “Buypass has shown firm development in markets that are not part of the delivery to Norsk Tipping and has ambitions for further growth in these fields. This is the time to exchange ownership. In our opinion, TSS will be a solid owner that will be able to support Buypass in its further development.”
Buypass
Buypass was established in 2001 and has been developed in close collaboration with Norsk Tipping and TietoEvry, which have been 50/50 owners since the company’s inception. Norsk Tipping is a Norwegian state-owned lottery and gaming company with profits primarily used to fund sports, culture, and humanitarian organizations in Norway. TietoEvry is a Nordic-based IT services and software company that provides digital consulting, cloud solutions, and IT services to businesses and public sector organizations globally. Buypass offers a complete portfolio of services for identifying and encrypting information throughout the electronic value chain. It is Norway's only issuer of internationally approved SSL certificates, and 2.3 million Norwegians have a Buypass ID for easy identification and payment.
Today, Buypass constitutes one of the largest Norwegian competence environments for developing user-friendly solutions that satisfy the market and the authorities' strictest security requirements.
If you are an owner of a Vertical Market Software company and you would like to know more about joining TSS, please contact:
Tobias Risom
M&A Manager
Telephone: +45 6060 8473
Email: t.risom@tss-vms.com
www.buypass.no
Share:
