Gemalto (Euronext NL 0000400653 GTO), the world leader in digital security, today announces that it closed the acquisition of Ericsson Internet Payment Exchange AB ("IPX") with the exception of operations in USA, from Telefonaktiebolaget LM Ericsson (NASDAQ: Ericsson), the world's leading provider of communications technology and services. Created by Ericsson, IPX has developed one of the leading mobile payment and messaging platforms in the world. IPX connects more than 1,000 customers to over 120 Mobile Network Operators (MNOs). IPX also operates payment platforms as a white label service for various operators. IPX, which is headquartered in Stockholm, employs approximately 100 people. As part of the transaction, Gemalto is also acquiring Ericsson's Trusted Service Manager (TSM) activity. IPX will join Gemalto's Software & Services business line in the Mobile Communications segment. Terms of the transaction were not disclosed.
Commenting on the transaction, Richard Anell, Head of IPX, stated: "As part of Ericsson, IPX has built a robust platform and a worldwide business. Going forward, Gemalto's dedication to developing mobile money, mobile identity and mobile security, and expertise in advanced secure cards and NFC, will be key to expanding our offers and accelerating our growth. We are very pleased and excited to have a new owner with great interest in our business and such complementary solutions."
Olivier Piou, CEO of Gemalto, added: "Acquiring IPX is a natural step for us in supporting the ramp up of MNO and mobile service providers related payment and identity services. IPX's positioning, as an international player built on Ericsson advanced technology, is really a perfect fit with Gemalto".
Gemalto (Euronext NL0000400653 GTO) is the world leader in digital security with 2011 annual revenues of €2 billion and more than 10,000 employees operating out of 74 offices and 14 Research & Development centers, located in 43 countries.
We are at the heart of the rapidly evolving digital society. Billions of people worldwide increasingly want the freedom to communicate, travel, shop, bank, entertain and work – anytime, everywhere – in ways that are enjoyable and safe. Gemalto delivers on their expanding needs for personal mobile services, payment security, authenticated cloud access services, identity and privacy protection, eHealthcare and eGovernment efficiency, convenient ticketing and dependable machine-to-machine (M2M) applications.
Gemalto develops secure embedded software and secure products which we design and personalize. Our platforms and services manage these secure products, the confidential data they contain and the trusted end-user services they enable. Our innovations offer more ways for our clients to enhance the convenience and security of people's digital lives.
Gemalto thrives with the growing number of people using its solutions to interact with the digital and wireless world.
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