All three companies are set to contribute assets to the new venture, including patents, software, people, cash and capital equipment. ARM will own 40 percent of the joint venture, with Gemalto and Giesecke & Devrient each owning 30 percent.
The new venture is set to focus on improving security for smart connected devices by developing a Trusted Execution Environment (TEE) based on ARM TrustZone security technology.
Devices with a TEE are set to will enable consumers to use their smart, connected devices more frequently to access applications and services including mobile payment, enterprise productivity and mobile banking applications, as well as online commerce and premium content services.
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