Electronics Production |
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.