SAGEM enters the Chinese smart card market

Sunday 11 July 2004 18:31 CET | News

SAGEM and the Wuhan (Hubei), China company Tianyu have signed an agreement to develop business together in the Chinese smart card market.

Under the terms of the agreement, SAGEM has acquired a significant interest in Tianyu, and the two companies have launched a joint venture for the manufacture of smart cards. As a specialist in smart card technology and a major European manufacturer in the industry, SAGEM is providing Tianyu with the technological and industrial backing necessary to increase its business and develop cards that make use of technologies such as Java. This partnership enables SAGEM to become a significant player in the Chinese smart card market—a market which is the largest in the world for telecoms applications and has substantial growth perspectives in the banking and security sectors. The agreement, for which approval by local authorities is pending, will be finalised shortly.

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Categories: Payments & Commerce | Cards
Countries: World
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