The acquisition is set to allow Inside Secure to access a wider customer base in the mobile, content provider and network industries that serve application markets including smart grids, automotive, gaming and others. By leveraging the capabilities of Inside Secure’s existing Mobile NFC and Digital Security businesses, the combined offer should lead to additional sales in high growth markets.
At closing, Inside Secure will pay USD 38 million in cash subject to a working capital adjustment and up to an additional USD 10 million subject to completion of certain post-closing transactions. The transaction is expected to be accretive to Inside Secure’s 2013 adjusted operating and net results.
ESS designs, develops and sells a range of embedded security services including hardware IP and software. It provides a host of security services tailored for businesses and consumers on the move which include semiconductor IP, security toolkits and DRM solutions that address both client and server-side security.
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.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now