Gemalto, a provider of digital security services, and Xiring, a France-based provider of smart card based authentication solutions for e-banking and e-commerce, have entered into exclusive negotiations with the objective to complete the acquisition by Gemalto of the Xiring banking activity.
The proposed transaction concerns all of the current activities of the banking business unit of Xiring, with all the associated products, IP and technologies, as dedicated to EMV based authentication solutions for e-banking and e-commerce.
Gemalto said that the combination of Xiring’s banking activity with its own would strengthen its position in EMV based authentication solutions for e-banking and e-commerce.
The transaction is expected to be completed by year end. Upon completion of the transaction, Xiring would continue to operate in its non-banking activities independently from Gemalto.
