Netherlands Blocks Kyndryl €100m Solvinity Deal Over Security

The Dutch government has rejected Kyndryl's €100 million bid to acquire Solvinity due to national security concerns, particularly regarding the control of critical digital infrastructure used for various public services in the Netherlands. This decision reflects worries about the implications of the U.S. CLOUD Act, which could allow U.S. authorities access to Dutch data.

The government emphasized that while it values foreign tech companies, it maintains a strict investment screening process to protect public interests. Kyndryl expressed disappointment, citing missed benefits for Dutch citizens from the acquisition, especially in light of upcoming European technology sovereignty initiatives.