Gemplus Invest in Intuwave

Thursday 13 May 2004 09:00 CET | News

GemVentures, the corporate VC fund of Gemplus has made an strategic investment in Intuwave. In parallel with this deal, Apeera, a French company in which GemVentures is also a minority investor, will merge with Intuwave.

The complementary security knowledge of Gemplus and Apeera will enhance Intuwaves ability to deliver leading platforms and applications to the mobile industry. Intuwave will receive a total of US3.6m as a combination of direct cash investment from GemVentures and cash held by Apeera. Apeeras decision to combine its assets with Intuwaves technology is a logical move that enhances the value of each company. Intuwave will also benefit both from Gemplus capability to leverage the SIM to enhance security and from its extensive reach into mobile operators, device manufacturers and financial institutions. Their combined know-how will facilitate the development of enhanced security and device management solutions that will enable Mobile Network Operators to provide a world class user experience to their enterprise and consumer customers on GPRS and 3G networks. As a result of its investment, Gemplus will also be taking a full board seat at Intuwave.

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Categories: Payments & Commerce | Cards
Countries: World
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Payments & Commerce