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.
DE LA RUE WILL BUY PHILIPS’ SMART BUSINESS
