Netherlands halts Kyndryl’s Solvinity takeover on security grounds
- Source
- Politico
- Time
- 1:12 PM
- Weight
- 94/100
The Dutch government has officially blocked the acquisition of the local IT firm Solvinity by the U.S.-based technology company Kyndryl. The decision follows a formal review by the national investment screening authority, which recommended halting the deal on the grounds of protecting the public interest.
Solvinity plays a critical role in the country’s digital infrastructure as the operator of the platform for DigiD, the national authentication app used by Dutch citizens to access healthcare, housing, and government services. State Secretary for Digital Economy Willemijn Aerdts stated that while the Netherlands continues to value foreign tech investment, it must maintain an independent screening framework to safeguard vital systems from falling under foreign control.