PARIS -(Dow Jones)- French digital security company Gemalto NV (GTO.FR) Monday said it was in exclusive talks to buy security software company Xiring SA's (ALXIR.FR) banking business unit.
MAIN FACTS:
- The transaction is expected to be completed by year end.
- Upon completion of the transaction, Xiring would continue to operate in its non-banking activities independently from Gemalto.
- The two companies will not comment on the proposed transaction terms until the achievement of negotiation and legal processes and signature of a final and binding contract.
- The combination of the banking activity from Xiring with its own, would position Gemalto as a leader in EMV based strong authentication solutions for e-banking and e-commerce.
- By Paris Bureau, Dow Jones Newswires; +331-4017-1740; jethro.mullen@dowjones.com
(END) Dow Jones Newswires
November 23, 2009 01:30 ET (06:30 GMT)