Gemalto finalizes the acquisition of 3M’s Identity Management Business

Amsterdam, May 1, 2017 - Gemalto (Euronext NL0000400653 - GTO), the world leader in digital security, today announces the closing of the acquisition of 3M's Identity Management Business after approval by the relevant regulatory and antitrust authorities[1]. This strategic acquisition rounds out Gemalto's Government Programs offering by adding biometric technologies and more secure document features and it ideally positions the Company to provide solutions for the promising commercial biometrics market.

The Identity Management Business will be integrated into Gemalto Government Programs business. In 2016, the acquired business generated $202 million in revenue and an estimated $53 million in profit from operations[2].

"With the acquisition of 3M's Identity Management Business, Gemalto makes a strategic move by in-sourcing biometric technology. Combining our market access, technologies and expertise will enable Gemalto to further accelerate the deployment of trusted national identities and to offer strong end-to-end biometric authentication solutions throughout the digital economy", said Philippe Vallée, Gemalto CEO. "I warmly welcome the new teams joining Gemalto and we look forward to working closely together towards success."

 

[1] Local share transfer formalities are still underway in two countries and are expected to be completed in the second quarter of 2017.

[2] Source: Proforma carve-out financials based on due diligence

Contacts:

Investor Relations
Winston Yeo
M.: +33 6 2947 0814
winston.yeo@gemalto.com

Sébastien Liagre
M.: +33 6 1751 4467
sebastien.liagre@gemalto.com

Corporate Communication
Isabelle Marand
M.: +33 6 1489 1817
isabelle.marand@gemalto.com

Media Relations Agency
Suzanne Bakker
M.: +31 6 1136 8659
suzanne.bakker@citigateff.nl

 

Related PR:

Gemalto to acquires 3M's Identity Management Business (19 Sept 2016)