The hottest Oberthur will acquire mobile payment s

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Oberthur will acquire mobile payment solution provider moremagic

Oberthur technologies, a leading provider of security and identity recognition solutions and services based on smart card technology, has reached an exclusive negotiation agreement on the acquisition of moremagic solutions. Moremagic solutions is a leading provider of mobile financial services solutions, headquartered in Waltham, Massachusetts

nowadays, it has gradually become a low-cost and efficient solution that can help people obtain business and financial services in developed countries and emerging markets. No matter whether you have a bank account or not, mobile payment services can provide you with a safe and convenient way to send and receive money anytime and anywhere to meet a series of relevant experimental standards. NFC (near field communication) technology can further promote more such services

in the past few years, Oberthur technologies has actively participated in the development of NFC and mobile payment solutions, and has also formed a technical partner with moremagic, jointly winning an important contract in the Czech Republic

the combination of Oberthur technologies and moremagic's technical capabilities will help develop an integrated mobile payment service suite, covering secure end-to-end payment and transfer services, and help mobile operators and financial institutions provide innovative financial services in the mobile environment, such as near distance payment, remote payment and mobile banking

xavier drilhon, CEO of Oberthur technologies, said: "the acquisition of moremagic" consumers also hope that packaging materials made of natural materials are in line with our growth strategy, especially the solution business (more specifically, NFC ecosystem) Growth strategy. The technical expertise of both sides can be well complementary. Combined with Oberthur technologies' expertise in TSM, we will be able to meet the needs of customers in developed and developing countries. "

pankaj Gulati, CEO of moremagic, said: "For moremagic and its employees and customers, this is a major opportunity to develop and utilize a complete set of secure end-to-end solutions and cloud services in the field of mobile financial services. Oberthur technologies has a wide range of global businesses, occupies a leading position in the industry, and actively participates in the field of mobile payment, which is very important for us. This is a natural step in the development of a successful cooperative relationship between the two sides."

this acquisition is still pending the negotiation of the staff committee and the approval of the antitrust authority and other customary conditions

in this transaction, Rutberg company acted as the exclusive financial advisor of moremagic

about Oberthur technologies

Oberthur technologies is a leading company in the field of security technology. Its business scope covers: system development, solutions and services of smart cards (payment cards, SIM cards, passes, NFC...), secure identity documents, traditional and electronic documents (identity cards, passports, medical insurance cards). Oberthur technologies was founded in 1984 with 5700 employees. The company has 50 sales offices on five continents, and its international business network covers customers in 140 countries

about moremagic solutions

moremagic solutions has businesses in more than 30 countries around the world. The company is committed to providing mobile payment solutions to mobile operators, financial institutions, content providers and distributors, so that consumers can purchase goods and services through, POS or online. Moremagic's high-throughput payment engine and magicsuittm's prepackaged mobile commerce application help realize revenue generating services, including mobile offset, domestic and international mobile transfer, mobile banking and mobile payment. Moremagic's global value trading system, magichubtm, can be connected to distributor networks around the world to bring mobile operators' brand services to customers abroad. It is convenient for them to communicate with their relatives at home and improve the benefits of the global mobile network. The so-called dual space has two experimental spaces. BUSINESS WIRE

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