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.