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Mergers & Acquisitions

STMicroelectronics has bought the assets and business of Incard from IPM Group. The transaction between ST and IPM Group includes a cash consideration of EUR75mn for the purchase of Incard. According to Gartner Dataquest, the Italian-based Incard was the sixth largest smartcard maker in the world in 2002 with particular strength in the telecom market. Incard has a manufacturing facility located in Marcianise, Italy. The company has some 290 employees, a large number of whom are technical experts working in R&D, product development and application support. Incard has a wide product range of cards, software and development kits covering several smartcard applications, with a special emphasis on telecom prepaid cards and SIM modules.
STMicroelectronics has bought the assets and business of Incard from IPM
Group. The transaction between ST and IPM Group includes a cash
consideration of EUR75mn for the purchase of Incard. According to Gartner
Dataquest, the Italian-based Incard was the sixth largest smartcard maker in
the world in 2002 with particular strength in the telecom market. Incard has
a manufacturing facility located in Marcianise, Italy. The company has some
290 employees, a large number of whom are technical experts working in R&D,
product development and application support. Incard has a wide product range
of cards, software and development kits covering several smartcard
applications, with a special emphasis on telecom prepaid cards and SIM
modules.
ST also recently acquired Proton World International (PWI), a specialist
smartcard system software developer, particularly for the banking and
financial fields.


This acquisition builds on a long-standing co-operation between
STMicroelectronics and the IPM Group. Further to the acquisition of Incard,
ST has a long-term agreement, based on joint efforts in the identification
of innovative business opportunities in the field of smartcards, including
terminals, security, WLAN, mobile business and telecom applications. IPM
works in all aspects of the fixed network market from products - including
payphones, multimedia kiosks, internet appliances, smartcards, and network
access systems - up to advanced global engineering solutions.



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