Wednesday, August 20, 2014
Oberthur Technologies Acquires NagraID Security
Oberthur Technologies, a developer of digital security products being used in smart payment cards and other related areas--and which has significant Southern California operations--said this week that it has acquired NagraID Security SA. Financial terms of the buy were not disclosed. Oberthur Technologies said it is acquiring NagraID Security from Kudelski Group and the company's management. NagraID Security develops cards used for cloud security, particularly in the area of financial payments, authentication and identification. Oberthur Technologies has a facility in Rancho Dominguez, where it personalizes and fulfills orders for EMV (Europay, MasterCard and Visa) chip cards and traditional magnetic stripe credit and debit cards. Those electronic chip cards--which are widespread overseas--are becoming much more important here in the U.S., particularly after very high profile credit card breaches such as the one with Target earlier this year.