Linxens to buy SMARTRAC’s Secure ID & Transactions business

04/11/16

SMARTRAC has announced that it has finalised an agreement to sell its Secure ID & Transactions Business Division to the Linxens Group.

Headquartered near Paris, France, Linxens designs and manufactures smart card connectors, inlays and LED light sources. The company’s connector products are a key component of smart cards, enabling the communications and transactions that are central to financial and public sector applications used by consumers, including banking cards, SIMs for mobile telephony, ID and health cards.

“What we are announcing today sets the future direction for everyone at SMARTRAC. As a part of the Linxens Group, our highly successful and profitable Secure ID & Transactions business will face a bright future as a leader in Payment, Access Control & Identification technologies for maximum security and customer convenience,” says Christian Uhl, chief executive officer and chairman of the Management Board at SMARTRAC. “At the same time, SMARTRAC’s core business will be able to focus and accelerate its already successful transition into a leading provider of ready-made and customised RFID products and IoT-based solutions that enable businesses to identify, authenticate, track and complement product offerings.”

Under the terms of the agreement, Linxens will take over all the employees and assets assigned to SMARTRAC’s Secure ID & Transactions Business Division. Restricted to limited rights, Linxens will be allowed to use the Smartrac brand for the Secure ID & Transactions business for a period of up to 24 months after the sale is completed. Linxens will meet all of SMARTRAC’s Secure ID & Transactions contractual obligations to employees, customers and suppliers.

The acquisition is subject to regulatory approval and other customary closing conditions, and is expected to be closed by the end of 2016.

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Linxens to buy Smartrac’s Secure ID & Transactions business
Linxens to buy Smartrac’s Secure ID & Transactions business

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