Gemalto, a provider of digital security and XIRING, a security solutions provider for remote transactions, have completed their exclusive negotiations and signed a binding contract related to the acquisition by Gemalto of the XIRING banking activity for EUR20mn.
The transaction covers all of the current activities of the banking business unit of XIRING dedicated to EMV based strong authentication solutions for e-banking and e-commerce. The contract includes the transfer of the technical and commercial team and all the associated products, IP and technologies, on December 31, 2009.
Olivier PIOU, CEO of Gemalto, said: “XIRING has successfully developed its banking activity to secure online banking and e-commerce. In line with its 2010-2013 strategic plan, Gemalto strengthens here its positioning as a global leader in internet banking and access security solutions.”
Georges Liberman, chairman and CEO of XIRING, said: “We have started this activity ten years ago with a technological innovation, and the objective to securing internet banking operations. This transaction with Gemalto acknowledges the success of our strategy and our performance. It also confirms our ability to innovate and develop XIRING on new markets.
“The global footprint of Gemalto, and its performance, will relay the success of this technology on a worldwide basis. XIRING will now focus its efforts to internationalise its healthcare activity and to develop the electronic identity activity, which is positioned on a high-potential market. We will communicate our development plan on January 13, after the 2009 turnover and the 2010 guidance release.”
