Cryptomathic to acquire Aconite Technology

Tuesday 21 May 2019 00:45 CET | News

Cryptomathic has announced the acquisition of end-to-end EMV card lifecycle, transaction processing and PIN management provider, Aconite Technology.

Cryptomathic is a global provider of secure server solutions to businesses across a wide range of industry sectors, including banking, government, technology manufacturing, cloud and mobile. The company provides systems for Authentication & Signing, EMV, Key Management and PKI & ID.

Both Cryptomathic and Aconite Technology are focused on providing secure infrastructure for EMV payments. The acquisition will enable the two companies to leverage their combined expertise in the field.

Post-acquisition, the increasing collaboration between the two companies is anticipated to accelerate expansion into emerging and growth markets for EMV payment services. South Africa, for example, is demonstrating considerable demand for specialist EMV infrastructure solutions from both challenger startups and some of the biggest established banks who are looking to re-platform to regain market agility.

Cryptomathic and Aconite Technology will continue to operate as individual brands in the marketplace and their respective organisational and management structures will remain unchanged.

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Keywords: Cryptomathic, acquisition, Aconite Technology, EMV payments, authentication
Countries: World