24 January 2017
visit http://www.wolterskluwerfs.com

Gemalto buys Multos business from Keycorp

03 September 2008  |  8191 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  |  5212 views  |  0 comments
Keycorp sells Canadian unit; buys Stepnexus subsidiaries

Keycorp sells Canadian unit; buys Stepnexus subsidiaries

03 April 2008  |  6771 views  |  0 comments
Gemalto axes 409 French jobs

Gemalto axes 409 French jobs

08 June 2007  |  4581 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  |  4751 views  |  0 comments
Keycorp opens door to Baltic States with Multos deal

Keycorp opens door to Baltic States with Multos deal

23 October 2002  |  3566 views  |  0 comments
Keycorp wins 1.1 million Multos chip card order

Keycorp wins 1.1 million Multos chip card order

20 December 2001  |  3319 views  |  0 comments
MasterCard wins largest single Multos card order

MasterCard wins largest single Multos card order

04 May 2001  |  4071 views  |  0 comments
HSBC first to pilot Multos chip card

HSBC first to pilot Multos chip card

18 October 2000  |  3636 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit wavestone.co.ukVisit capgemini.comhttp://www.financialcrimerisk.fiserv.com/aml?r=finextra

Top topics

Most viewed Most shared
US fintech firms join forces to push data sharing via APIsUS fintech firms join forces to push data...
10687 views comments | 62 tweets | 53 linkedin
EU watchdog tells FS firms to focus on blockchain security risksEU watchdog tells FS firms to focus on blo...
6408 views comments | 16 tweets | 25 linkedin
hands typing furiouslyBlockchain: Securities market infrastructu...
6354 views 0 | 3 tweets | 4 linkedin
New York regulator blasts OCC over bank charter plan for fintech firmsNew York regulator blasts OCC over bank ch...
6278 views comments | 21 tweets | 15 linkedin
China's Ant Financial goes global in bid for two billion users in 10 yearsChina's Ant Financial goes global in bid f...
6000 views comments | 22 tweets | 12 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job