At closing, Inside Secure has paid a transaction consideration of USD 41.6 million net of cash acquired and after an adjustment based on the estimated working capital of the transferred business at closing and completion of certain closing-related transactions.
As a result of this acquisition, Simon Blake-Wilson, vice president of ESS, has been appointed executive vice president in charge of Inside Secure’s Embedded Security Solutions division.
Inside Secure is a designer, developer and supplier of semiconductors, embedded software and platforms for transactions and digital security. The company services include mobile payment, identification documents, access control, transit, electronic device manufacturing, pay television and mobile service operators.
In recent news, Inside Secure has received MasterCard CAST and Functional certification on the INSIDE SecuRead NFC module for its mobile MasterCard PayPass M/Chip 4 payment applet.
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