Giesecke+Devrient (G+D) has announced the acquisition of the payment and identity solutions business of Valid USA. With this step, G+D aims to accelerate growth in the US, one of the world’s largest payment and identity markets.
G+D and Valid, headquartered in Brazil, signed an Asset Purchase Agreement (APA) for the acquisition of Valid’s payment and identity solutions business which includes the three manufacturing facilities.
G+D has been established in the US since 1990, with offices and production sites across the country, providing technologies and solutions for payment, connectivity, identities and digital infrastructures.
Valid is a global technology provider that offers solutions in payment, mobile, data and identity solutions, as well as digital marketing and digital certification. Among the customers in the US, where Valid has been present since 2012, are key financial institutions and merchants, as well as various government customers.
After the deal is closed, which is planned for later in the year, the G+D Group will integrate the acquired businesses into its existing organization: The parent company G+D will take over the local payment card production facilities, while its subsidiary Veridos, a provider of integrated identity solutions, will further expand the existing driver’s license card business.
The investment strengthens G+D’s and Veridos’ offering and position, providing further impulse for its accelerated growth in the US.
“Part of G+D’s success strategy is that we continue to invest intensively in new technology fields as well as our core business,” comments Ralf Wintergerst, Group CEO and Chairman of the Management Board of G+D.
“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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