Gemalto Acquires Two Payment Card Personalization Bureaus for the US Market
13 May 2014 - 3:00PM
Gemalto (Euronext NL0000400653 - GTO), the world leader in digital
security, today announced that it has acquired Shoreline and Source
One Direct, two personalization bureaus in the United States which
were previously part of Cardiff Holdings. Located in North
Kingstown, Rhode Island and in Atlanta, Georgia, both activities
provide secure personalization services for payment cards
addressing credit and debit card issuers in the United States.
The US is moving towards an October, 2015 liability shift which
mandates EMV chip technology to replace the older magnetic stripe
cards. Last year alone there were over 1.6 billion EMV cards in use
across the globe and many issuers in the US are now accelerating
their own migration in light of the recent security breaches that
have occurred with major retailers.
Commenting on the transaction, Oliver Piou, Gemalto Chief
Executive Officer noted: "The US market is rapidly moving to EMV,
and this is another step in our ongoing investments to have the
best mix of products and services to support our customers. This
move reinforces our ability to deliver advanced personalization
services to card issuers in the United States and complements our
unique expertise in EMV acquired through the unrivalled number of
such migrations we have deployed around the world. Adding these two
companies to the Gemalto family will benefit US banks and credit
unions of all sizes as they migrate their card portfolios to more
secure smart card technology, which has proven to mitigate fraud in
all regions of the world."
Wright Ohrstrom, Chairman of the Board of Cardiff Holdings,
added "Serving their collective customers for over 45 years,
Shoreline and Source One Direct are leading personalization bureaus
in the US. As part of Gemalto, the teams will combine their deep
knowledge of the US market with Gemalto's global footprint and
technological leadership just at the right time as the region
implements EMV chip & pin technology as the standard for card
security."
Terms of the transaction were not disclosed.
About Gemalto
Gemalto (Euronext NL0000400653 GTO) is the world leader in
digital security with 2013 annual revenues of €2.4 billion and more
than 12,000 employees operating out of 85 offices and 25 research
and software development centers, located in 44 countries.
We are at the heart of the rapidly evolving digital society.
Billions of people worldwide increasingly want the freedom to
communicate, travel, shop, bank, entertain and work – anytime,
everywhere – in ways that are enjoyable and safe. Gemalto delivers
on their expanding needs for personal mobile services, payment
security, authenticated cloud access, identity and privacy
protection, eHealthcare and eGovernment efficiency, convenient
ticketing and dependable machine-to-machine (M2M) applications. We
develop secure embedded software and secure products which we
design and personalize. Our platforms and services manage these
products, the confidential data they contain and the trusted
end-user services made possible.
Our innovations enable our clients to offer trusted and
convenient digital services to billions of individuals. Gemalto
thrives with the growing number of people using its solutions to
interact with the digital and wireless world.
For more information visit www.gemalto.com,
www.justaskgemalto.com, blog.gemalto.com, or follow @gemalto on
Twitter.
CONTACT: Investor Relations
Gabriel Rangoni
M.: +33 6 1426 6956
gabriel.rangoni@gemalto.com
John Lineberger
M.:+33 6 1243 6304
john.lineberger@gemalto.com
Corporate Communication
Isabelle Marand
M.: +33 6 1489 1817
isabelle.marand@gemalto.com
Media Relations Agency
Suzanne Bakker
M. : +31 6 1136 8659
suzanne.bakker@citigateff.nl
Edi Cohen
M. : +31 6 2151 7820
edi.cohen@citigateff.nl
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