Kudelski-owned conditional access and interactive TV technology provider Nagra has sold its NagraID subsidiary to a group of investors including the company’s management team.
NagraID is a manufacturer of embedded card-based products based in La-Chaux-de-Fonds, Switzerland.
Nagra will cointinue to hold a 50% stake in NagraID Security, a separate entity.
“With this transaction, the Kudelski Group reaches a further milestone in the process of streamlining its supply chain,” said Mauro Saladini, Kudelski Group, chief financial officer. “Among a number of potential buyers, we have selected the option providing the best overall balance for all relevant stakeholders. The Group will actively support NagraID with the goal of ensuring a smooth transition.”
“NagraID will evolve to ensure its long-term development as an independent entity,” said Frédéric Clauss, CEO of NagraID.
“We intend to capitalise on the track record established in the financial sector and loyalty cards segments to further strengthen our positioning as the leading innovation-driven smart card provider in the Swiss market.” he added.