Management buy-out for NagraID
May 2, 2014 16.44 Europe/London By Robert Briel
Kudelski HQKudelski Group has announced the sale of its NagraID affiliate to a group of investors including NagraID’s management team.
NagraID is a manufacturer of embedded card-based products based in La-Chaux-de-Fonds, Switzerland.
“With this transaction, the Kudelski Group reaches a further milestone in the process of streamlining its supply chain” said Mauro Saladini, Kudelski Group, CFO.
“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,” declared 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.
Kudelski continues to retain its current 50% share in NagraID Security, an independent company from NagraID SA