Oberthur Technologies (OT), a world leader in digital security solutions for the mobility space, announced that it has signed an agreement to acquire 100% equity stake of NagraID Security SA. from the Kudelski Group.
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 development strategy”.
The transaction is expected to close in the coming weeks. Financial terms of the transaction were not disclosed.
OT has always been at the heart of moility, from the first smart cards to the latest contactless payments 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 & acces 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.
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.
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