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Advent International in negotiations to acquire Oberthur Technologies Card Systems and Identity activities

Monday 8 August 2011 13:21 CET | News

Advent International, the global private equity firm and Oberthur Technologies, a US-based provider of smart card-based services, have entered into exclusive negotiations for the acquisition of the latter’s Card Systems and Identity divisions. The transaction of the deal will be valued at EUR 1.15 billion.

Jean-Pierre Savare, founder of the Oberthur Group and his family will retain a minority stake of about 10 percent in the company. Advent International will also support the company’s growth through potential external to improve its technological development.

The Card Systems Division provides security and identification services for mobile, payment, transport, digital TV and convergence markets. Clients include mobile operators, financial institutions, transport operators and conditional access system providers. The Identity Division specializes in manufacturing of secure identity documents, such as passports, identity cards, driving licenses and healthcare cards and associated services for both governmental and corporate markets.

In recent news, US Bank, divison of US Bancorp in partnership with Visa and Oberthur Technologies has released a dual interface payment service, dubbed the US Bank FlexPerks Travel Rewards Visa, which allows acceptance and compatibility with credit cards systems worldwide.


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Keywords: Advent International, Oberthur Technologies, card, identity
Categories: Fraud & Financial Crime
Companies:
Countries: World
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Fraud & Financial Crime






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