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| Subject: Re: Sagem Buys Stake In Gemplus (about 10%) 4/12/02 | |
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Author: anonymous |
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Date Posted: 15:31:26 12/05/02 Thu In reply to: anonymous 's message, "Gemplus, first card vendor chosen by Proton WorldJavaCardâ„¢ technology" on 23:07:05 12/04/02 Wed http://www.cardtechnology.com/cgi-bin/readstory.pl?story=20021204CTDN229.xml ------------------------------------------------------------ Sagem Buys Stake In Gemplus ------------------------------------------------------------ Sagem SA, one of Europe’s largest electronics makers, today announced it has bought a major stake in smart card vendor Gemplus International, a move applauded by investors. Sagem purchased shares worth about 10% of the card vendor’s capital from Gemplus co-founder and board member Marc Lassus. With the sale of most of his shares, Lassus is expected to step down from the board. This prospect and the involvement of Sagem appears to have pleased the market, which sent Gemplus’ depressed share price up by more than 18% on the Paris bourse. Lassus has been locked in a well-publicized power struggle on the board with U.S.-based venture capital firm Texas Pacific Group, the vendor’s largest shareholder. Labor strife and restructuring costs continue to dog the Gemenos-France based vendor, one of the two largest card makers worldwide. Paris-based Sagem, a 3 billion euro maker of such consumer devices as GSM mobile phones, TV set-top boxes, fax machines and fixed telephones, as well as electronics equipment for the defense industry, also produces a small volume of smart cards. But it is better known in the smart card industry for its fingerprint-biometric identification systems. In a statement, Sagem said the Gemplus stake will "strengthen the existing industrial partnerships" between the two companies. "Both companies offer right management systems matching smart card and fingerprint identification technologies with success in a burgeoning market." A story in today’s edition of the French daily newspaper Le Monde suggests some French government officials had pressed Sagem to buy the Lassus shares, thus keeping them out of the hands of American investors. A Gemplus spokeswoman rejected that idea. The stock purchase, she says, "means that they trust the future of the company." ------------------------------------------------------------ ( 2002-12-04 ) [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Re:Proton/Keyware/CEPS/Biometric/Gemplus/Sagem. | anonymous | 16:05:20 12/05/02 Thu |
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