Gemalto has increased its capital investment to become the majority shareholder in mobile-payments firm Netsize, the company announced Tuesday. Amstercam-based Gemalto has an option to buy the company at a later date, but it did not disclose terms of the transaction.
Before the company increased its capital investment in Netsize, Gemalto held a 24% stake in France-based Netsize, which offers mobile-payment services for 100 mobile operators in 28 countries. The services reach more than 1 billion billable subscribers and provide mobile text messaging to more than 200 countries, Gemalto says.
“Netsize’s mobile-payment platform complements our rapidly expanding mobile software and services offering,” Gemalto CEO Olivier Piou said in a statement.
Netsize CEO Stanislas Chesnais will remain in his position, and Netsize will continue to operate as a standalone company within the Gemalto Group. Netsize employs 180 workers in 10 countries.
“Gemalto’s investment will facilitate our expansion into new markets such as Latin America, Africa and Southeast Asia,” Chesnais said in a statement.
Officials from the companies could not be reached for comment.
