Giesecke+Devrient acquires Valid USA to increase payment, digital ID security
Giesecke+Devrient Mobile Security (G+D) has signed an Asset Purchase Agreement (APA) for the acquisition of Brazil-based firm Valid’s payment and digital identity solutions business in the U.S.
G+D said the contract will aid the company to accelerate its growth in the U.S., since it includes Valid’s three manufacturing facilities in Downers Grove, Bolingbrook, and Fort Wayne, together with parts of the Valid USA headquarters in Lisle.
“Part of G+D’s success strategy is that we continue to invest intensively in new technology fields as well as our core business,” says the company’s CEO Ralf Wintergerst, commenting on the news.
“With the acquisition of Valid’s payment and identity business in the U.S., we are not only reaffirming our long-term commitment to the U.S. market. The expanded solution portfolio will also allow us to continue growing strategically in both fields – payment and identities.”
Business areas for Valid in the U.S. include issuance of REAL ID credentials. Valid Director of Identity Programs and Product Management Kevin Freiburger discussed consumer data privacy, decentralized identity, and protecting biometric data in a 2021 interview with Biometric Update.
According to the terms of the agreement, G+D will take over local payment card production facilities from Valid, while integration with its digital ID-focused subsidiary Veridos will aid in the further expansion of the latter’s existing driver’s license card business. The integration of Valid USA assets expands Veridos’ reach from two states to six.
“Valid chose the G+D Group because of its experience, knowledge and leadership in its operating segments,” explains Valid USA CEO Eli Carmeli.
“Furthermore, the fact that G+D already has a presence in the American market further benefits its current and prospective customers. Valid and G+D, together, are looking for a transition that aims at continuity in the excellence of the services provided.”
The terms of the acquisition were not disclosed.
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Article Topics
acquisitions | biometrics | digital ID | driver's license | Giesecke & Devrient (G+D) | payments | Valid | Valid USA | Veridos
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