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Kudelski divests cloud security unit

nagra-group-overview_0Mobility security solutions specialist Oberthur Technologies has acquired content security provider Kudelski’s cloud powered security cards unit NagraID Security for an undisclosed sum.

NagraID Security develops and markets powered display cards to secure access to the cloud, primarily for companies operating in the field of financial payments, authentication and identification solutions, according to Kudelski. The transaction is expected to close in the coming weeks.

“The earn-out-based structure of the sales agreement allows Kudelski Group to share the upside of the display card market, while relying on a strong industrial partner. We think Oberthur Technologies is well-placed to lead NagraID Security and are pleased for the NagraID Security team,” said Kudelski Group president and CEO André Kudelski.