French smart card vendor Gemalto has agreed a deal to buy Allied Technologies' NamITech South Africa business as it looks to expand its presence in the region. Financial terms were not disclosed.
NamITech, with revenues of around EUR15 million, provides secure cards and services in Southern Africa. The unit's facility at Linbro Park, near Johannesburg provides card personalisation services to banks and employs approximately 350 people.
The deal does not include the Namitech West Africa business based in Nigeria or Altech Card Solutions and Altech ISIS.
Olivier Piou, CEO, Gemalto says: "Africa is a region on the rise for us. This project will enable us to grow our service offering to Southern Africa customers, and contribute to the development of the industry in the area."
Subject to approval from the South African Competition Commission, the deal is expected to close in March.