Gemalto on Monday confirmed that it has completed the acquisition of Keycorp's smart card business, the provider of Multos products and services to the financial services and government sectors, and of Multos Ltd, the company that operates the remote activation service and high-security facility that is at the center of the Multos security architecture.
Amsterdam, the Netherlands-based Gemalto is paying A$25.7 million for Sydney, Australia-based Keycorp's smartcard business assets, IP portfolio, trademarks and Multos Ltd.
The acquisition will contribute over €15 million of annual revenues to the secure transactions and government programs segments of Gemalto on an annual basis, with over half of the revenues coming from Asia.
Multos was previously owned by Mastercard Worldwide through Mondex, and is promoted by the Maosco consortium.
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