Government ID, Smart Cards, Identification and Authentication

Gemalto buys XIRING's banking group for $29 million

Wednesday, December 16, 2009

Gemalto and XIRING, a security solutions provider for remote transactions, announced that they have completed exclusive negotiations and signed a binding contract related to the acquisition by Gemalto of the XIRING banking activity for more than $20 million. 


XIRING is a provider of EMV-based strong authentication solutions for e-banking and e-commerce with more than 12 millions already deployed in Europe. 


The transaction concerns 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 Dec. 31.
The transaction has no impact on XIRING non-banking activities or on other activities of Gemalto. [end] 

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