|[August 19, 2014]
Oberthur Technologies Acquires NagraID Security the Specialist of Powered Display Cards to Secure Access to the Cloud
COLOMBES, France & CHESEAUX, Switzerland --(Business Wire)--
Oberthur Technologies (OT), a world leader in digital security solutions
for the mobility space, today announced that it has signed an agreement
to acquire NagraID Security SA.
OT will acquire a 100% equity stake of NagraID Security SA from the
Kudelski Group (SIX: KUD.S) and the company's management.
NagraID Security SA develops and markets powered display cards to secure
access to the cloud, primarily for companies operating in the field of
financial payments, authentication and identification solutions, using
one-time password (OTP) or dynamic card verification value (DCVV, the 3
or 4 digit security code printed on payment cards) technologies.
Didier Lamouche, President and CEO of OT declared: "Thanks to the
acquisition of NagraID Security's exclusive powered display card
technology, OT is making a significant move on the very competitive
payment card market, and in particular helping to reduce fraud for all
card non-present transactions. Furthermore, the acquisition will enrich
OT's offering to financial institutions. I am very confident that the
talented teams of NagraID Security will contribute to our ambitious
André Kudelski, President and CEO of the Kudelski Group added: "The
earn-out-based structure of the sales agreement allows Kudelski Group to
share the upside of the display card market, while relying on a strong
industrial partner. We think Oberthur Technologies is well-placed
to lead NagraID Security and are please for the NagraID Security team."
The transaction is expected to close in the coming weeks. Financial
terms of the transaction were not disclosed.
About Oberthur Technologies
OT is a world leader in digital
security solutions for the mobility space. OT has always been at the
heart of mobility, from the first smart cards to the latest contactless
payment technologies which equip millions of smartphones. Present in the
Payment, Telecommunications and Identity markets, OT offers end-to-end
solutions in the Smart Transactions, Mobile Financial Services,
Machine-to-Machine, Digital Identity and Transport & Access Control
fields. OT employs over 6 000 employees worldwide, including close to
700 R&D people. With more than 50 sales offices across 5 continents and
10 facilities, OT's international network serves clients in 140
countries. For more information: http://www.oberthur.com.
About the Kudelski Group
The Kudelski Group (SIX: KUD.S) is
a world leader in digital security and convergent media solutions for
the delivery of digital and interactive content. Its technologies are
used in a wide range of services and applications requiring access
control and rights management to secure the revenue of content owners
and service providers for digital television and interactive
applications across broadcast, broadband and mobile delivery networks.
The Kudelski Group is also a world technology leader in the area of
access control and management of people or vehicles to sites and events.
The Kudelski Group is headquartered in Cheseaux-sur-Lausanne,
Switzerland. For more information, please visit www.nagra.com.
About NagraID Security
NagraID Security SA, a subsidiary of
the Kudelski Group produces multi-component and other complex cards for
the security and identification industry. NagraID Security's Research
and Development Team combine international experts having broad
experience in security, cryptography, electronics, material sciences and
manufacturing. NagraID Security provides advanced design, development,
and industrialization capabilities for innovative authentication
solutions. Please visit www.nidsecurity.com
for more information.
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