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G+D to buy Valid's US payments and ID business

G+D to buy Valid's US payments and ID business

Germany's Giesecke+Devrient (G+D) has agreed to buy the US payments and identity assets of Brazilian outfit Valid. Terms of the deal were not disclosed.

G+D has been established in the US since 1990 but hopes that the acquisition will spur growth in the massive market.

Valid has been in the States since 2012, and counts a host of financial institutions and merchants, as well as various government agencies, as customers.

The deal includes three manufacturing facilities which collectively employ more than 400 people. G+D will take over the local payment card production facilities, while its subsidiary Veridos will expand the existing driver's license card business.

Ralf Wintergerst, group CEO, G+D, says: "With the acquisition of Valid's payment and identity business in the US, we are not only reaffirming our long-term commitment to the US market.

"The expanded solution portfolio will also allow us to continue growing strategically in both fields - payment and identities."

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