Giesecke & Devrient (G&D) is acquiring SmartTrust AB, a provider of server solutions for managing applications on SIM cards and mobile phones. Details of the transaction have not been disclosed.
With cell phones and mobile devices offering more services there is a need to manage the applications over the network. The acquisition will enable G&D and SmartTrust to provide this services.
SmartTrust has 178 employees around the world and generated € 31.3 million in revenues last year. SmartTrust is headquartered in Stockholm and maintains eight branch offices around the world. More than 200 cellular network operators worldwide use SmartTrust technology. G&D will acquire all the ownership shares of SmartTrust from its present owners including the Carlyle Group, Eqvitec Technology Fund, TeliaSonera and GE.