Main Capital Partners (“Main”) has supported SIVIS in acquiring 2ndC, a leading provider of Identity & Access Management (IAM) solutions in the Danish market as part of the Buy-and-Build strategy of SIVIS. The investment marks the first add-on investment of SIVIS and will enable the firm to complement its product offering also beyond the SAP ecosystem through state-of-the-art user life cycle and identity management capabilities. In addition the group is now well positioned to expand the offering to new geographies.
2ndC was founded 1990 in Copenhagen and currently serves a diversified customer base of c. 20 enterprise customers in Denmark. 2ndC’s Identity & Access Management solutions help companies protect and manage sensitive personal information throughout the user lifecycle. This ensures that the right people have secure and easy access to the right systems, applications and data.
Together, the group will combine its strengths and help customers to get their user lifecycle and security needs under control. 2ndC, as a generalist in managing identities from different landscapes, perfectly complements SIVIS’ deep SAP expertise. The combined offering will provide customers a central orchestration for identities in the entire IT environment. With a secure identity solution, the new foundation is laid for customer employees to have all licenses, assets and accesses from the first working day. The suite integrates with all the leading HR platforms in the market and the combined group will be a leading software security provider with more than 2.5 million managed identities.
David Nykjær, Managing Director of 2ndC, commented: “We are one of the most innovative IAM vendors on the Scandinavian market, helping companies to maximize the value of IAM using Microsoft standard-based platforms and tools. With the new group we are convinced to accelerate our expansion in the DACH Region and the rest of Europe. Our solution assists our customers achieving their digitalization strategy by applying standards and transparency to on, off- and cross-boarding processes. Together with SIVIS we provide a one-stop-shop solution for hybrid integrations to both cloud and legacy systems based on Microsoft- and SAP platforms.“
Philipp Latini and Boris Grothues, co-CEOs of SIVIS, said: “We are totally excited to finally solve customer request regarding the management of identities to a broad band of non-SAP systems. We feel a strong demand for more integrated, innovative and cloud-based IDM solutions and together with 2ndC we are capable to deliver a solid framework to all customers.”
Sven van Berge Henegouwen, Head of DACH-activities at Main, added: “We see significant complementarity between both solutions and we strongly believe that a combination adds value to both customer groups. SIVIS customers regularly request a user life cycle management tool and IDM solutions beyond the SAP ecosystem that we can now offer. Together with its more than 70 employees, the new group has an impressive footprint in the Identity Management Software market in DACH and the Nordics that we will leverage further to build a leading pan-European security software player.”
About 2ndC
2ndC an identity management software specialist with over 20 years of experience in helping enterprises and organizations to gain control over sensitive data from the moment the user enters the company until they leave. The company was founded in 1990 by Jesper Bergstedt in Copenhagen, Denmark and has more than 25 employees. It serves a diversified customer base of around 20 enterprise clients in Denmark.
About SIVIS
SIVIS is a software specialist for authorizations, user management and compliance in SAP. The company was founded in 1999 and has 46 employees. In addition to its headquarter in Karlsruhe, SIVIS also has offices in Eschbach and Switzerland. SIVIS’ industry agnostic solution is implemented at more than 120 enterprise customers mostly in the DACH region. The company aims to offer added value to SAP customers through a combination of product development, qualified consulting and effective project implementation.
About Main Capital Partners
Main Capital Partners is a leading software investor in the Benelux, DACH and the Nordics. Main has almost 20 years of experience in strengthening software companies and works closely together with management teams of its portfolio companies as a strategic partner, in order to realise sustainable growth and build excellent software groups. Main counts over 50 employees and has offices in The Hague, Stockholm and Düsseldorf. As of October 2021, Main has over EUR2.2 billion of assets under management. Main has invested in more than 130 software companies to date. These companies have created jobs for approximately 4,000 employees.
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