Oberthur Technologies completes acquisition of MoreMagic
Levallois, France and Boston, USA June 19, 2012
Oberthur Technologies, one of the world’s largest providers of security and identification solutions and services based on smart card technologies, today announced the completion of the acquisition of the leading Boston based mobile payments company MoreMagic.
Joining forces, Oberthur Technologies and MoreMagic will create a comprehensive suite of mobile commerce and financial services solutions including a secured mobile wallet infrastructure and NFC end-to-end offer. This will help mobile operators, financial institutions and other non-telecom service providers to offer innovative services such as P2P transfers, mobile banking, proximity and remote payments.
MoreMagic’s offer will be part of Oberthur Technologies’ solutions portfolio and will be available through its global sales network.
Xavier Drilhon, CEO of Oberthur Technologies: “The acquisition of MoreMagic is fully in line with our growth strategy notably in our Solutions business and more specifically in the NFC eco-system. The complementarities between our respective technological bricks and Oberthur Technologies’ TSM expertise will perfectly fit the needs of our clients, in both mature and developing countries.”
Pankaj Gulati, CEO of MoreMagic: “For MoreMagic, this is an exciting next step in line with our already existing and successful partnership with Oberthur Technologies. This merger will be a win-win for our customers who will benefit from our ability to offer even more innovative, market driven solutions to help them expand and grow their businesses in an increasingly mobile world. We now have the ability to deploy end-to-end, secure, turnkey solutions and provide cloud based services in the mobile financial services space.”
About Oberthur Technologies
Oberthur Technologies is a world leader in the field of secure technologies: systems development, solutions and services for smart cards (payment cards, SIM cards, access cards, NFC…) and for secure identity documents, traditional and electronic (identity card, passport, health care card). Created in 1984, Oberthur Technologies employs 5,700 employees. With 50 sales offices across 5 continents, Oberthur Technologies’ international network serves clients in 140 countries.
About MoreMagic Solutions
With deployments in more than 30 countries worldwide, MoreMagic Solutions offers mobile payment solutions to mobile operators, financial institutions, content providers, and distributors, enabling consumers to purchase goods and services on demand using a mobile phone, POS, or web. MoreMagic’s high-throughput payments engine (m:BrokerTM) and the portfolio of pre-packaged mobile commerce applications in MagicSuiteTM, enable revenue-generating services, including mobile recharge, domestic and international mobile money transfer, mobile banking and mobile payments. MagicHubTM, MoreMagic’s global value exchange which is connected to a worldwide distributor network, brings mobile operator branded services to out-of-country customers, enabling communications with relatives back home, and increased usage on mobile networks worldwide.
Contacts Oberthur Technologies
Stéphanie Cau, Communication Director
Tel. : +33 1 47 85 58 06
FTI Consulting Strategic Communications
Tel. : +33 1 47 03 68 65 / +33 6 74 91 48 05
Email : firstname.lastname@example.org
Tel. : + 33 1 47 03 68 61 / + 33 6 32 65 79 28
Contacts MoreMagic Solutions
Tel. : +44 207 751 4444
Email : email@example.com
Tel. : +44 207 751 4444
Email : firstname.lastname@example.org
Tel. : +1 973 670 1203
Email : email@example.com
Back to List