French digital security provider Gemalto has agreed to buy South African card personalization company NamiTech from Allied Technologies Ltd. (Altech), a Johannesburg investment holding company. The Linbro firm, with revenues of $20.6 million, provides secure cards and services to South Africa’s major banks. The purchase does not include Allied’s other holdings, including Altech Card Solutions and Namitech West Africa in Nigeria.
“Africa is a region on the rise for us,” said Gemalto CEO Olivier Piou. “This project will enable us to grow our service offering to Southern Africa customers, and contribute to the development of the industry in the area.”
The transaction, subject to approval by the South African Competition Commission, is expected to close next March.