By Narayan Bhat
French digital security provider Gemalto NV
has reportedly subscribed to a capital increase in Netsize
, with an option to potentially acquire the company at a later date.
), which did not disclose terms of the deal, has already held 24 percent of Netsize.
Headquartered in Levallois Peret, near Paris, Netsize employs approximately 180 people, and offers mobile payment solutions based on operator billing for 100 mobile operators in 28 countries, reaching over 1 billion billable subscribers worldwide, and provides mobile messaging to over 200 countries.
Netsize manages more than 60 million mobile transactions per month for 800 customers worldwide, including Fortune 500 companies.
According to a press release, Netsize will continue to operate as a stand-alone company within Gemalto. Netsize was founded in 1999 by Stanislas Chesnais, who will remain as CEO.
Olivier Piou (News
), CEO of of Gemalto, stated: “Gemalto invested in Netsize back in 2001 and was the first and largest outside investor in Netsize. It is natural extension of our long term relationship that Gemalto now becomes Netsize’s majority shareholder. Netsize’s mobile payment platform complements our rapidly expanding mobile software and services offering.”
Gemalto is the world leader in digital security with 2008 annual revenues of €1.68 billion, and 10,000 employees operating out of 75 offices, research and service centers in 40 countries.
“Netsize has been a pioneer in mobilizing business and commerce,” commented Philippe Vallée, executive vice president for Telecom at Gemalto. “Netsize’s “one click” mobile payment solution is a key brick in enabling the monetization of mobile phone downloads and app-stores.”
Stanislas Chesnais, founder and CEO of Netsize, added “Gemalto’s investment will facilitate our expansion into new markets such Latin America, Africa and South East Asia. We look forward to leveraging Gemalto’s digital security technology to make mobile payments even more pervasive and convenient.”Narayan Bhat is a contributing editor for TMCnet. To read more of Narayan’s articles, please visit his columnist page.
Edited by Erin Harrison