Nokia exits the TSM market

Giesecke & Devrient has acquired Nokia‘s shares in Venyon, the Trusted Service Management specialist the two companies set up as a joint venture in 2006.

“This move to acquire full ownership of Venyon is another key milestone in G&D’s strategy,” says Karsten Ottenberg, CEO of Giesecke & Devrient. “It will enable us to continue to expand our position as a provider of secure mobile phone solutions — from SIM and secure microSD cards through software to the secure administration of critical applications on the mobile phone.

“The market for NFC solutions is expected to develop steadily,” he added. “Venyon has built up leading service expertise in the NFC ecosystem, which will also be useful to us in other business sectors.”

“Nokia is proud to be a supporter and provide multiple enabling roles for NFC, one of them having been our investment in Venyon,” added Mark Selby, VP of industry collaborations at Nokia. “As the market for NFC is now maturing, the time is right for us to focus our efforts even more on NFC-enabled mobile devices and solutions designed to support NFC. We believe Venyon’s crucial role as a trusted third party working with mobile operators and service providers is best supported through full ownership by Giesecke & Devrient, who are recognized experts in secure applications in this market.”

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