13 December 2017
visit http://response.ncr.com

Gemalto buys Multos business from Keycorp

03 September 2008  |  8626 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)

Finextra news in your inbox

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

Related stories

Italy's PosteMobile deploys Gemalto m-payments software

Italy's PosteMobile deploys Gemalto m-payments software

12 June 2008  |  5469 views  |  0 comments
Keycorp sells Canadian unit; buys Stepnexus subsidiaries

Keycorp sells Canadian unit; buys Stepnexus subsidiaries

03 April 2008  |  6975 views  |  0 comments
Gemalto axes 409 French jobs

Gemalto axes 409 French jobs

08 June 2007  |  4826 views  |  0 comments
Multos owner StepNexus acquires .NET-based Nectar smart card technology

Multos owner StepNexus acquires .NET-based Nectar smart card technology

16 February 2006  |  5027 views  |  0 comments
Keycorp opens door to Baltic States with Multos deal

Keycorp opens door to Baltic States with Multos deal

23 October 2002  |  3802 views  |  0 comments
Keycorp wins 1.1 million Multos chip card order

Keycorp wins 1.1 million Multos chip card order

20 December 2001  |  3593 views  |  0 comments
MasterCard wins largest single Multos card order

MasterCard wins largest single Multos card order

04 May 2001  |  4290 views  |  0 comments
HSBC first to pilot Multos chip card

HSBC first to pilot Multos chip card

18 October 2000  |  3879 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.solutions.lexisnexis.comvisit www.response.ncr.comvisit www.atos.net

Top topics

Most viewed Most shared
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
12133 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
9316 views comments | 16 tweets | 22 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
7914 views comments | 17 tweets | 35 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
7330 views comments | 8 tweets | 17 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
7165 views comments | 20 tweets | 11 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job