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April 24, 1997updated 05 Sep 2016 12:57pm

GE CAPITAL TAKES EQUITY SHARE IN GEMPLUS

By CBR Staff Writer

Gemplus SA is replacing its original partners with new investors from the manufacturing and service industries who will have more than just financial interests in the growth of its smart card business. The company announced the signing of an agreement with financial services company GE Capital services Inc, part of US- based General Electric Co Inc, which will acquire a significant equity interest in the French company, but will also work along side Gemplus developing new products and services. Gemplus was established in 1988 and since then has essentially relied upon venture capital from companies inside and outside of France, but has made the decision to restructure its shareholder base in a bid to strengthen its reputation in the smart card industry and expand into new markets. Gemplus believes GE Capital’s support will be key in breaking emerging markets in Asia and the Americas, and says the alliance shows the companies’ commitment to improving the quality of service delivered, as the use and importance of smart cards continues to grow.

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