G+D Mobile Security acquires CPS Technologies from OT-Morpho
G+D (Giesecke&Devrient) Mobile Security has signed an agreement to acquire the personalization bureau CPS Technologies from OT-Morpho (cf. Smart Insights Weekly #17-23). This completes G+D Mobile Security’s comprehensive offering for the French market. The closing of this transaction is subject to regulatory approvals.
G+D Mobile Security expects to benefit particularly from CPS Technologies’ high-tech bank card personalization and service management center. CPS Technologies provides delivery and card personalization, identification, transport and loyalty services. The company was founded in 1992 and is based in Craponne, close to Lyon, France. Since end of 2012, CPS Technologies operated as a subsidiary of Safran Morpho (cf. SIW #12-46). Before it was a part of American Banknote Corporation.
Earlier, the European Commission has cleared the proposed acquisition of France-based Morpho by Advent International of the US (cf. SIW #17-17). The approval is conditional on the divestiture of Morpho’s payment smart card business in France.
The Commission’s investigation found that in France there are only three viable suppliers of payment smart cards with the necessary national certifications and production sites to supply the country’s banks. The takeover would cut that number to only two, which would significantly reduce competition. It focused in particular on the firms’ overlapping activities in smart card markets.