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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.

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March 28 2024 10:16 am V22.4.20-2
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