Etienne Schneider, Luxembourg’s Deputy Prime Minister and Minister of the economy, today announced a partnership between Luxemburg and the Tecnoinvestimenti group, active in digital trust, credit information and management and innovation and marketing services.
Tecnoinvestimenti, through its subsidiary InfoCert S.p.A., the largest Certification Authority in Europe, has signed an agreement to acquire 50% of LuxTrust, the leading player in Digital Trust in Luxembourg with a strong institutional sponsorship, via an initial subscription of a €12 million capital increase. The Joint Venture between InfoCert and LuxTrust is a second fundamental step towards the goal of creating the leading Pan-European Trust Service Provider. The partnership will engender the growth of LuxTrust by offering best-in-class services to existing and new customers and spur international development to expand digital trust business in all its reference markets. LuxTrust will retain its data centres in Luxembourg and strengthen its role as the main national critical infrastructure for Digital Identity and Qualified Trust Services Provider. The joint venture will enable LuxTrust to invest in Research & Development, further developing its intellectual properties and the breadth of core competences of its staff. Also guaranteed under the partnership is the service continuity for existing customers.
Minister Schneider stated “This win-win partnership is yet another cornerstone within LuxTrust’s international development by enabling the company’s business and skills of its employees to develop and expand in cross-border trade. Thus, the partnership will raise Luxembourg’s profile as a trusted centre in Europe and will contribute to further position the Grand Duchy as an ideal location for the development and internationalisation of ICT companies as well as for innovation.” Enrico Salza, Chairman of Tecnoinvestimenti, stated “This is the second major international transaction for Tecnoinvestimenti/InfoCert and concretely demonstrates our determination to create a European Champion of Digital Trust Services. We are honoured and excited to join forces with LuxTrust, the Government of Luxembourg and the Luxembourgish Chamber of Commerce to expand Digital Trust services in the BeNeLux/Francophone region and beyond.”
“The partnership with LuxTrust,” commented Pier Andrea Chevallard, Managing Director of Tecnoinvestimenti, “combines all the essential aspects for a solid industrial collaboration: critical mass to leverage the respective strengths, financial resources, strong territorial presence and an exceptional institutional profile, upon which the joint venture can expand significantly our Digital Trust business in major European markets vital to our long-term strategy. We anticipate that the partnership should greatly accelerate the development of new digital trust products, thereby ensuring the most advanced technological offer by far on the market. Finally, this transaction strengthens Tecnoinvestimenti Group’s capability to promote and consolidate further its international leadership in Digital Trust in the coming future.”
The CEO of LuxTrust, Pascal Rogiest, remarked: “LuxTrust and InfoCert share the same strategic vision, aiming for international development through a portfolio of innovative products based on cutting edge technology, security and compliance. Our offerings are complementary, and we will benefit from each other’s expertise. Having the same DNA, it seemed perfectly natural for us to join forces in a common industrial project. Together we will a have critical-mass of customers and users unmatched in Europe. This is a great development opportunity for the company, for its staff, for its partners and for our customers.”