Electronics Production | November 15, 2005
M-Systems acquires Spanish smart-card company
Israel-based flash storage supplier M-Systems Flash Disk Pioneers Ltd. announced that the company would acquire Madrid based Microelectronica Espanola for $40 million in cash.
“Integrating security and storage on one hand, and building a broad portfolio of mobile storage solutions on the other, are at the core of our mobile strategy,” said Arnon Dinur, senior VP of strategy and M&A at M-Systems, in a statement. “We believe that continuing with Microelectronica Espanola's current team and maintaining its position in the market as a provider of high-end smart card solutions falls right into place with our own market positioning and direction”, he added. “Today's announcement opens a world of new opportunities for M-Systems as we combine Microelectronica Espanola's team, channels, its advanced secured manufacturing capabilities and smart card technology, with our own core competencies in the realm of flash management and security,” said Dov Moran, president and CEO of M-Systems.