19 April 2015

Gemalto buys Multos business from Keycorp

03 September 2008  |  7452 views  |  0 handshake

European vendor Gemalto has bought the smart card business of Australia's Keycorp - which includes the Multos multi-application operating system - in a deal worth around EUR15 million.

Under the agreement, Gemalto has acquired Keycorp's smartcard business assets, IP portfolio, trademarks and Multos Limited - the company that operates the remote activation service and high-security facility at the centre of the Multos security architecture.

Gemalto takes over Keycorp's implementation of the Multos smart card operating system, the Multos brand, the associated patents and the key management authority (KMA) which manages card activations worldwide.

Gemalto says around 40 Multos staff will join its operations, mainly in Australia and the UK.

The European firm predicts the acquisition will contribute over EUR15 million of annual revenues, with over half coming from Asia.

Philippe Cambriel, EVP, secure transactions, Gemalto, says: "For the high-end and multi-application segments of EMV payment cards, Multos fully complements our Java product and services range to provide a comprehensive portfolio. It extends our base of blue chip banking customers, and also brings a highly recognised secure post-issuance service for banking applications, with proven efficiency, scalability and value."

Sydney-based Keycorp teamed with Hitachi and Mondex to buy the UK subsidiaries of Stepnexus - the previous owner of the Multos multi-application smart card operating system - in April.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

12 June, 2008
03 April, 2008
08 June, 2007
16 February, 2006
23 October, 2002
20 December, 2001
04 May, 2001
18 October, 2000

Related company news

 

Top topics

Most viewed Most shared
UK banks covering up cybercrime losses - C...
6721 views 13 comments | 26 tweets | 13 linkedin
BBVA buys UX firm Spring Studio
6499 views comments | 32 tweets | 17 linkedin
Card is king as cash usage continues to fa...
6135 views comments | 22 tweets | 14 linkedin
Digital and core renewal to drive bank IT...
4818 views comments | 32 tweets | 25 linkedin
World Bank reports big drop in numbers of...
4731 views 10 comments | 36 tweets | 14 linkedin

Featured job

to GBP £80K base, double OTE
London, UK or Madrid, Spain

Find your next job