Oberthur Smart Cards, the card division of Francois-Charles Oberthur Fiduciaire, announced Thursday that it finalized the acquisition of De La Rue Card Systems, the card division of the De La Rue group.
This acquisition results in the creation of a new company called Oberthur Card Systems.
Following the approval of the American authorities, the agreement between the Francois-Charles Oberthur and De La Rue groups by which Oberthur Smart Cards was to acquire De La Rue Card Systems became final on Oct. 1, 1999.
The result of this acquisition is the creation of Oberthur Card Systems, one of the world’s smart card leaders with estimated revenues of approximately 2.8 billion French Francs (U.S. $466 million) and 3,000 employees worldwide.
“We are extremely pleased with this acquisition,” explained Thomas Savare, general manager of Oberthur Smart Cards. “Oberthur Card Systems, the new entity we just created will benefit from De La Rue Card Systems’ know-how and will be among the top three players in the market. Our goal is to eventually become number 1 in the smart card market.”
About Oberthur Smart Cards
Oberthur Smart Cards, a leading manufacturer, technology and solutions provider of microprocessor cards and systems, is the card division of Groupe Francois-Charles Oberthur, one of the world’s leading high security printers. Oberthur manufactures and personalizes smart cards and magnetic stripe cards in three production centers in the United States and Europe.
Oberthur Smart Cards produced over 225 million cards worldwide in 1998, including 30 million microprocessor cards and 45 million memory cards. Founded in 1987, Oberthur Smart Cards has become the world leader in microprocessor transaction cards and is also present in other market segments such as telecommunications, GSM, Internet, e-commerce, government, healthcare, pay-TV and transit.
About De La Rue Card Systems
De La Rue Card Systems, whose 1998 turnover was 139.1 million pounds, is a major supplier of VISA and MasterCard products world-wide and a world leader in the development and delivery of electronic and mobile commerce solutions. De La Rue is also a major supplier of Pay-TV smart cards. As a leading provider of smart card solutions to customers in banking, telecoms, loyalty, transport, and Pay-TV, De La Rue Card Systems is committed to open standards and supports Microsoft Windows Card, the Visa Open Platform, Java Card and MULTOS.Details