Gemplus International S.A.announced that it has reached an agreement with Kudelski S.A. (SWXKUD) for the sale of SkiData AG, its leading electronic access-control solutions business unit. The transaction values the SkiData enterprise at 140 million Euro. Under the terms of the agreement, Kudelski S.A. will pay partly in cash and partly in shares. The agreement includes provisions that protect the value and liquidity of the share component to Gemplus. The transaction is expected to close within the next two months subject to customary closing conditions.
Gemplus indicated that this transaction was the result of an ongoing strategic process to further focus on its key growth markets. “Since the days leading to our IPO, we have openly discussed our strategic intent to focus on three important markets Telecommunications, Financial Services and E-Business Security,” said Antonio Perez, President and CEO of Gemplus. “The sale of SkiData results from the implementation of this strategy and reflects our belief that by concentrating our resources and attention on these high growth market segments, we will be much better aligned to achieve the vast potential that they represent.”
Kudelski S.A. is a leader in the domain of conditional access and system management solutions for digital interactive television and broadband internet as well as in the area of smart card-based security and ticketing systems. SkiData, which employs 350 people, had revenues of 81 million Euro in 2000. In 2000, Gemplus reported 1.205 billion Euro in revenue and employed more than 7800 people.
“Both groups have obvious synergies and close cultural ties,” stated Andre Laux, SkiData’s CEO. “We are pleased to join Kudelski S.A.”
“We are delighted that we are able to execute our strategy while preserving employment and reinforcing SkiData’s success,” added Perez. “We have also established an excellent relationship with Kudelski S.A., which could be beneficial over the longer term.”
Gemplus the world’s number one provider of solutions empowered by Smart Cards (Gartner Dataquest 2001).
Gemplus helps its clients offer an exceptional range of portable, personalized solutions that bring security and convenience to people’s lives. These include mobile internet access, inter-operable banking facilities, e-commerce and a wealth of other applications.
Gemplus is the only completely dedicated, truly global player in the Smart Card industry, with the largest R&D team, unrivalled experience, and an outstanding track record of technological innovation.
Gemplus trades its shares on Euronext Paris S.A. First Market and on the Nasdaq Stock Market(TM) as GEMP in the form of ADSs. Its revenue in 2000 was 1.205 Billion Euros. It employs 7800 people in 37 countries throughout the world.
Gemplus Your Passport to the Digital Age(TM) www.gemplus.comDetails