View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
November 30, 2009

Giesecke & Devrient acquires Nokia’s shares in Venyon

To expand its position as provider of secure mobile phone offerings

By CBR Staff Writer

Giesecke & Devrient (G&D) has become the sole shareholder in Venyon Oy by acquiring the shares held by Nokia. G&D held a majority of the shares before the acquisition.

Since its creation in 2006, Venyon has established as trusted service managers (TSM) on the mobile near field communication (NFC) market.

NFC combines smart card and contactless technologies for secure mobile phone applications. As a TSM, Venyon provides trusted services to provision and manage applications such as credit cards or transit tickets securely over the mobile network on the user’s NFC-enabled mobile phone.

Karsten Ottenberg, CEO of Giesecke & Devrient, said: This move to acquire full ownership of Venyon is another key milestone in G&D’s strategy. It will enable us to continue to expand our position as a provider of secure mobile phone solutions – from SIM and secure microSD cards through software to the secure administration of critical applications on the mobile phone. The market for NFC solutions is expected to develop steadily. Venyon has built up leading service expertise in the NFC ecosystem, which will also be useful to us in other business sectors.

Mark Selby, VP of industry collaborations at Nokia, said: Nokia is proud to be a supporter and provide multiple enabling roles for NFC, one of them having been our investment in Venyon. As the market for NFC is now maturing, the time is right for us to focus our efforts even more on NFC-enabled mobile devices and solutions designed to support NFC.”

Content from our partners
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape
Green for go: Transforming trade in the UK

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.
THANK YOU