Gemalto today announced that it has completed the acquisition of Trusted Logic from its founders and other shareholders.
Gemalto today announced that it has completed the acquisition of Trusted Logic from its founders and other shareholders. Gemalto, which already held 32% of the shares, aims with this transaction at accelerating the international development of Trusted Logic technologies. The terms of the transaction were not disclosed.
Trusted Logic is a leading independent player in the digital security market, providing secure software for personal portable devices. Founded in 1999, Trusted Logic is a pioneer of the digital security world. With operations in France, Ireland, Singapore and South Africa, Trusted Logic employs approximately 100 people and revenue of €9.8 million in 2008.
Trusted Logic is organized in 3 businesses:
- The PCD (Professional & Consumer Devices) division provides the leading Trusted Foundations™, an execution environment selected by ARM and Texas Instruments for security-demanding applications. Trusted Foundations™ also extends the SIM card’s capabilities by providing enhanced secure interaction with the handset and the user.
- The SST (Smart Cards & Secure Tokens) division markets the jTOP® software suite for smart cards, USB keys and e-tokens.
- And Trusted Labs, a wholly owned subsidiary of Trusted Logic, offers security consulting and evaluation services and helps customers worldwide with the design and deployment of their next secure digital services.
Trusted Logic and Trusted Labs will continue to operate as separate entities with their own teams, products and services and under their own brand names.
Oliver Piou, Gemalto Chief Executive Officer commented “With this combination, we expand Gemalto’s offering to deploy security-demanding services into the device. This transaction goes along our strategy of extending Gemalto’s business with bolt-on acquisitions that create value in domains adjacent to our business.”
Dominique Bolignano, founder and CEO of Trusted Logic added “We have a long-standing relationship with Gemalto and this deal is the best outcome for the customers of Trusted Logic and for our employees. We really look forward to leveraging on Gemalto’s commercial presence around the globe to accelerate the growth of the business”.
Philippe Vallée, Executive Vice President of the Telecommunications Business Unit at Gemalto added: “We are very pleased, and welcome the Trusted Logic teams joining us. Trusted Logic is a well respected and growing company, with blue chip customers and a perspective that is very complementary to Gemalto’s vision. Gemalto will accelerate the deployment of its excellent technologies, leveraging on jTOP and Trusted Foundations”.