Gemalto buys Ericsson Internet Payment Exchange

Source: Gemalto

Gemalto (Euronext NL 0000400653 GTO), the world leader in digital security, today announces that it closed the acquisition of Ericsson Internet Payment Exchange AB ("IPX") with the exception of operations in USA, from Telefonaktiebolaget LM Ericsson (NASDAQ: Ericsson), the world's leading provider of communications technology and services.

Created by Ericsson, IPX has developed one of the leading mobile payment and messaging platforms in the world. IPX connects more than 1,000 customers to over 120 Mobile Network Operators (MNOs). IPX also operates payment platforms as a white label service for various operators. IPX, which is headquartered in Stockholm, employs approximately 100 people. As part of the transaction, Gemalto is also acquiring Ericsson's Trusted Service Manager (TSM) activity. IPX will join Gemalto's Software & Services business line in the Mobile Communications segment. Terms of the transaction were not disclosed.

Commenting on the transaction, Richard Anell, Head of IPX, stated: "As part of Ericsson, IPX has built a robust platform and a worldwide business. Going forward, Gemalto's dedication to developing mobile money, mobile identity and mobile security, and expertise in advanced secure cards and NFC, will be key to expanding our offers and accelerating our growth. We are very pleased and excited to have a new owner with great interest in our business and such complementary solutions."

Olivier Piou, CEO of Gemalto, added: "Acquiring IPX is a natural step for us in supporting the ramp up of MNO and mobile service providers related payment and identity services. IPX's positioning, as an international player built on Ericsson advanced technology, is really a perfect fit with Gemalto". 

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