2017: transformation and maturity

While 2017 has seen the end of Smart Insights Weekly and our transformation in to a new business positioning, it has also been a transformative year for the secure transactions industry we keep on analyzing. 2017 will remain as a revolutionary year for the secure transactions industry itself! After years of status quo with four leading players and Gemalto as the undisputed leader, we have seen this year the merger of Oberthur and Morpho to create Idemia and the start of the acquisition process of Gemalto by Thales. The secure transactions industry as such is becoming a branch of the cyber security industry, a move triggered by the anticipated slowdown in demand of SIM cards and EMV cards. As

Thales to acquire Gemalto for EUR 4.8 bn: the largest European technology deal of the year

Thales and Gemalto announced yesterday that they have reached an agreement on an all-cash offer from Thales to acquire all Gemalto shares at EUR 51 per share cum dividend, representing a EUR 4.8 billion valuation for the company. The acquisition will be funded by Thales from a combination of available cash reserves and a EUR 4 billion credit facility. The transaction is dependent on shareholder and regulatory approvals and clearances, with closure expected during the second half of 2018. Thales Chairman and CEO, Patrice Caine said he does not expect any antitrust issue that would hinder the project. Atos, which made an offer for Gemalto at EUR 46 per share last week, rejected by Gemalto mana

Atos proposes to acquire Gemalto

Edit on December 14, 2017: Gemalto management has rejected Atos offer and published a statement on December 13 at 8 PM, stating that the offer "significantly undervalues the Company," and affirming that "Gemalto, the world leader in digital security, is best positioned to grow successfully on a standalone basis and create long term value for its stakeholders, including its shareholders." Atos, a major expert in digital transformation headquartered in France, published on Monday evening a statement announcing it has made a formal proposal to acquire Gemalto. The company says its offer was delivered to Gemalto Board of Directors on November 28, 2017, which issued a statement on December 12 say

Car hacking made easy!

Last week, Chris Valasek, who introduces himself as an ethical hacker, gave a speech during Trustech, coming back on how he hacked a Jeep back in 2015. He got into the Uconnect entertainment system of the car thanks to a combination of vulnerabilities in the system and poor network protection, and from there, took control of the car, to the extent he was able to use the brakes and block the steering wheel. Not only this hack was feasible, but also as the car designers had not set up any means to remotely update the software, making the only possible correction to repeal 1.4 million cars! Chrysler had no other option but to engage in this complex and costly move. However, all issues are not y

Gemalto announces layoff plan

In relation with its series of profit warnings, Gemalto just announced a reorganization of its activities in France that will lead to 288 job losses. The company will downsize its activities on three of its French sites: Gemenos and La Ciotat in Provence, and Meudon near Paris. These layoffs, essentially targeting marketing, communication, and sales functions, represent around 10% of the company headcount in France. On a global basis, around 600 job positions may be made redundant, out of a 15,000 total headcount. According to Gemalto, this is a result of a slowdown in demand for SIM and banking cards as well as price pressure in both segments. The company even recognizes its historical remo

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