The Nexus journey toward the Smart ID solution
Identity and security company Nexus Group was founded in 1984. In 2009, its journey toward the convergence of physical and digital access began. In 2017, the vison was realized with the Smart ID solution.
In 2009, the company Ponderus Technology acquired enough shares in the company Nexus Technology to take it off of the Stockholm Stock Exchange’s main list.
The vision of convergence is born
At that time, Nexus was a company with a diverse portfolio of software products, among them the desktop software used for the Swedish nation-wide electronic identity BankID. Ponderus had the strategic idea of creating a company offering one single multifunctional electronic identity.
However, to create a multifunctional ID solution, lots of costly development and technology acquisitions were needed. Funding for this has been provided by the original owners since the beginning.
Market demand starts to increase
In 2014, the owners saw a need to invigorate the Nexus management team with new energy and competence, to accelerate the Nexus journey.
It was obvious that the original idea from 2009 was still valid; the demand for a single ID for all digital and physical access had started to increase in multiple markets.
The technology platforms are integrated
Lars Pettersson was recruited as the new CEO in 2015. He built a completely new management team, which since then has made remarkable progress in integrating Nexus’s acquired technology platforms, cultures and processes. The new management team has also made sure that Nexus has kept innovating, and that its technologies were adopted for the cloud and software as a service (SaaS).
The Smart ID solution is launched
In 2017, Nexus launched the Smart ID solution. It enables users to identify themselves visually, log in, open doors, sign, make payments and use follow-me printing – with one single Smart ID.
The transformation of the company and the consolidation and further enhancement of the technology have been challenging at times, but the realization of the Smart ID shows that the time, money and commitment were wisely invested.
Nexus now offers a unique solution to its clients. To facilitate the proliferation of the Smart ID, Nexus has decided on an indirect sales model, in which a global partner network brings the solution to the end customer.
The board of Nexus Group appointed Magnus Malmström as new CEO from 1st of November, 2018. He moved from his current role as VP Product & Delivery and Lars Pettersson took the role as Chairman of the Nexus Group Board. Nexus was a point where an increased focus on selected market segments required a CEO with deep technical knowledge of identity and security and Magnus Malmström had long and solid international industry experience. In his former role he had paved the way for Nexus’s future product portfolio, which made him an natural choice.
Committed long-term owners
Behind Ponderus Technology (today Nexus Holding) is a group of high-net-worth Swedish families and leading industrialists. They have been, and still are, committed to securing the transformation of Nexus and have not hesitated in supplying the group with more capital when necessary.
The owners remain committed to the company and have great trust in Nexus’s management and its ability to not only fully complete the transformation of the company and its technology, but also to make the company a true leader in the field.