Gemalto buys Todos

Gemalto buys Todos

French smart card supplier Gemalto has acquired Swedish online banking authentication specialist Todos. Financial terms of the deal were not disclosed.

Todos was sold to Gemalto by 6AP, a fund belonging to the Swedish National Pension system and will be integrated into the French firm's identification and access management business line over the next few months.

Gothenburg-headquartered Todos was founded in 1987 and employs 80 people around the world, with offices in Germany and China. It claims to have sold 20 million of its Internet banking authentication devices to more than 100 financial institutions in over 30 countries. Customers include ABN Amro, Nordea and Shenzhen Development Bank.

Oliver Piou, CEO, Gemalto, says: "Todos is a perfect fit with our e-banking business, bringing a complementary customer base and extending the solution offering. The combined business creates a new leader to address the fast growing internet banking market worldwide."

In February Gemalto acquired Finnish mobile authentication outfit Valimo Wireless. This followed a December deal to buy the banking business of French rival Xiring and September acquisition of Trusted Logic.

Comments: (0)