Corporate ownership

Modernus ehf. was founded in january of 2000. In march of 2007 the company bought 93% of shares in Internet á Íslandi hf. and the two companies merged officially in january 1st 2008. Modernus is run as a division within Internet á íslandi hf. Outstanding shares in Internet á Íslandi hf. are 20.000.000. Part of the Modernus service, Coordinated webmeasure is operated in co-operation with a workgroup consisting of the five largest websites on the Coordinated webmeasures list. Coordinated webmeasures is also operated in Faroe Islands in co-operation with Gallup Föroyar. Other divisions within Internet á Íslandi hf. are ISNIC, that operates the root nameservers for Iceland and is responsible for the registration of all .IS domains. RIX (Reykjavík Internet eXchange) is a connection hub for Icelandic internet service providers and it's main purpose is the proper flow of Icelandic network traffic by keeping down both cost and latency.

The compined income of both companies in 2007 was ca. 170 m. kr. and profit after taxes ca. 40 m. kr. 10 people work for Internet á Íslandi hf. The chairman is Tryggvi Karl Eiríksson, specialist with Statistics Iceland. Other members of the board are Jens Pétur Jensen, economist, that also serves as CEO, Bárður Hreinn Tryggvason investor, Magnús Soffaníasson, CEO of TSC ehf. and co-founder of Modernus ehf. and Ingimundur Sigurpálsson, CEO of Íslandspóstur hf., which controls 20% of the stock. There are around 30 stock holders in Internet á Íslandi hf., both corporate and induviduals. The company was founded in 1995 when it was moved from SURÍS (Samtök um upplýsinganet rannsóknaraðila á Íslandi) which was responsible for the first internet connections in Iceland in 1986.