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Electronics Production | December 09, 2005

Smart-Card suppliers in merger

Two of the worlds largest Smart-Card suppliers have entered an agreement of a merger.
Gemplus and Axalto has entered a share swap deal valued at about EUR 928 million. This deal means that Axalto takes over its larger rival.

The move is seen as a cost reducing action as a result of the increasing competition from Asian suppliers. According to the company only small reductions in workforce are to be expected.

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