Gemalto acquires handheld security firm Trusted Logic

Founded in 1999, Trusted Logic employs approximately 100 people from its offices in in France, Ireland, Singapore and South Africa. The privately-held company, in which Gemalto already holds a 32% stake, posted revenue of €9.8 million in 2008. Terms of the transaction were not disclosed.

Under the agreement, Trusted Logic and its professional consulting subsidiary Trusted Labs will continue to operate as separate entities with their own teams, products and services and under their own brand names.

Oliver Piou, Gemalto chief executive officer comments: "With this combination, we expand Gemalto's offering to deploy security-demanding services into the device. This transaction goes along our strategy of extending Gemalto's business with bolt-on acquisitions that create value in domains adjacent to our business."