View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
May 20, 1997updated 05 Sep 2016 12:54pm


By CBR Staff Writer

De La Rue Plc has now completed its acquisition of Philips Electronics NV Smart Card subsidiary Philips Cartes et Systemes SA. De La Rue has for some time been looking for new revenue sources to bolster flagging margins in its traditional bank note printing business, and first announced its intent to buy the Philips business in February (CI No 3,100). It paid 54.2m pounds cash, and will assume around 1.9m pounds debt. The Paris, France- based Philips company, which employs 370 people in offices in Paris and Caen, made losses last year of 0.5m pounds on turnover of 30.6m pounds. The two companies had already been involved in a joint venture company, formed in 1993 to market smart cards. De La Rue says the acquisition will give it full access to the smart card product technology, which will enable it to augment its existing business. The new smart card business will trade under the name De La Rue Card Systems.

Content from our partners
Green for go: Transforming trade in the UK
Manufacturers are switching to personalised customer experience amid fierce competition
How many ends in end-to-end service orchestration?

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.