Government ID, Smart Cards, Identification and Authentication

Oberthur plans to shed smart card unit

Monday, August 1, 2011

Reuters reports, citing a Financial Times article, that Oberthur Technologies is finishing up its auction to sell off different units of its business to private equity bidders.

Although two bidders had already backed out of the deal, the FT says U.S. financial investors Advent International and One Equity Partners were still in the running for the smart card unit auction.

Oberthur is selling a 60% stake in its smart card business. The deal is valued at up to 600 million euros ($858 million).

Read more here. [end] 

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