Oberthur Technologies may be looking for buyers of 60% of its smart card business, according to a report on Telecom.com via Les Echos.
Oberthur is the world’s second biggest smartcard maker after Gemalto and selling off that portion of business would accounts for nearly three quarters of its revenue and is valued at 1 billion euro. It’s looking to sell its Card Systems division which is made up of SIM cards (49% of revenues), bank cards (47%) and satellite television cards.
The company will contact potential investors during the week of May 23, with a first round expected in the first half of June. If the operation goes ahead, the company will hold a minority stake but its partner will be a financial, rather than an industrial one, so it will retain a high level of operational control.
Oberthur would be left with three areas of activity with its ID division, which includes digital passport technology, secure deposits and bank note printing.
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