Giesecke+Devrient acquires Valid USA

Friday 1 July 2022 14:07 CET | News

Germany-based security tech group Giesecke+Devrient (G+D) has purchased the payment and identity solutions business of Valid USA.

With this step, G+D aims to accelerate growth in the US. G+D customers will benefit from the enlarged business size in the face of industry-wide supply chain challenges.

G+D and Valid signed an Asset Purchase Agreement (APA) for the acquisition of Valid’s payment and identity solutions business in the US by G+D. This includes the three manufacturing facilities in Downers Grove (Illinois), Bolingbrook (Illinois) and Fort Wayne (Indiana), which collectively employ more than 400 people as well as parts of the Valid USA headquarters in Lisle (Illinois).

Valid is a global technology provider that offers solutions in payment, mobile, data, and identity solutions, as well as digital marketing and digital certification. Among the customers in the US, where Valid has been present since 2012, are financial institutions and merchants, as well as various government customers. Both Valid solutions complement G+D's existing payment and identity business, enabling a gradual and seamless transition for all affected customers.

After the deal is closed, which is planned for later in 2022, the G+D Group will integrate the acquired businesses into its existing organisation. The parent company G+D will take over the local payment card production facilities, while its subsidiary Veridos, a provider of integrated identity solutions, will further expand the existing driver's license card business. The investment strengthens G+D's and Veridos’ offering and position, providing impulse for its growth in the US, one of the world’s largest payment and identity markets.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: acquisition, digital identity, expansion, payments
Categories: Fraud & Financial Crime
Companies: Giesecke+Devrient, Valid
Countries: United States
This article is part of category

Fraud & Financial Crime




Discover all the Company news on Giesecke+Devrient and other articles related to Giesecke+Devrient in The Paypers News, Reports, and insights on the payments and fintech industry:

Industry Events