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February 14, 1997updated 05 Sep 2016 12:15pm


By CBR Staff Writer

Philips Electronics NV continues to draw in its horns, and the latest unit to go is its Philips Smart Cards & Systems unit. De La Rue Plc has a letter of intent to acquire the French business, which has been working in the UK with its own De La Rue Technology arm since June 1993. A joint venture between the two combines De la Rue’s magnetic stripe card production and personalization with Philips’ Smart Card technology. No financial details of the transaction have been given.

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