Gemalto confirms its intention not to raise its bid for Wavecom
Meudon, France, Dec 3, 2008–Gemalto (Euronext NL0000400653 – GTO), the world leader in digital security, confirms that it will not raise its bid for Wavecom. Gemalto will inform the French Financial Markets Authority (AMF) of its intention to terminate its public tender, in accordance with the timetable of article 232-11 of the AMF General Regulations.
Olivier Piou, Gemalto’s Chief Executive Officer, remarked: “As part of its mid to long-term strategy Gemalto has several options to grow in the M2M market and in others. We do not intend to bid at a price that would not be in the best interests of Gemalto and its shareholders. I wish the best to Wavecom and all its employees.”
Gemalto (Euronext NL 0000400653 GTO) is the leader in digital security with pro forma 2007 annual revenues of over €1.6 billion, more than 85 offices in 40 countries and about 10,000 employees including 1,300 R&D engineers.
In a world where the digital revolution is increasingly transforming our lives, Gemalto’s solutions are designed to make personal digital interactions more convenient, secure and enjoyable.
Gemalto provides end-to-end digital security solutions, from the development of software applications through design and production of secure personal devices such as smart cards, SIMs, e-passports, and tokens to the deployment of managed services for its customers.
More than a billion people worldwide use the company’s products and services for telecommunications, financial services, e-government, identity management, multimedia content, digital rights management, IT security, mass transit and many other applications.
As the use of Gemalto’s software and secure devices increases with the number of people interacting in the digital and wireless world, the company is poised to thrive over the coming years.
For more information please visit http://www.gemalto.com.
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