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Gemalto NV, a French card vendor, has bought the France-based digital security provider Trusted Logic, CardLine Global sister publication American Banker reports. Gemalto had owned a 32% stake in the company since 2001, and it bought the remaining shares this week from company founder Dominique Bolignano and others for an undisclosed price. Full ownership of the company could accelerate Trusted Logic's growth, Paul Beverly, Gemalto president of North America and its executive vice president of marketing, tells American Banker. "We can scale it faster and really unlock the potential of the business," he says. Trusted Logic, founded in 1999, makes secure software for smart cards, mobile phones and payment terminals. Gemalto's earlier work with Trusted Logic should smooth the integration, Beverly says. "Trusted Logic is an example of a company where we made an early investment in a company to try to nurture its development." Gemalto has made four other purchases during the past four months that "are very complementary to what we do today and help bolster our position," he adds. These are Multos, Australia-based KeyCorp Ltd.'s smart card business; German mobile-phone software company O3SIS AG; secure card provider NamITech South Africa; and the unit of Dutch firm NXP Semiconductors that provides software and services for Mifare contactless application for mobile phones (CardLine Global, 9 March). Gemalto will not rename Trusted Logic, Beverly says. "Trusted Logic is a very trusted brand with a lot of its customers," he says.
