Digital security specialist Oberthur Technologies has signed an agreement to acquire display card manufacturer NagraID Security. Oberthur will acquire a 100% equity stake of NagraID Security from the Kudelski Group and the company’s management.
A Nagra display card
NagraID Security develops and markets powered display cards to secure access to the cloud, primarily for companies operating in the field of financial payments, authentication and identification solutions, using one-time password (OTP) or dynamic card verification value (DCVV, the 3 or 4 digit security code printed on payment cards) technologies.
Didier Lamouche, President and CEO of Oberthur, said: “Thanks to the acquisition of NagraID Security’s exclusive powered display card technology, Oberthur is making a significant move on the very competitive payment card market, and in particular helping to reduce fraud for all card non-present transactions. Furthermore, the acquisition will enrich Oberthur’s offering to financial institutions.”
The transaction is expected to close in the coming weeks. Financial terms of the transaction were not disclosed.
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