Joint Venture Foundation of Giesecke & Devrient and Nokia Completed
The new company called Venyon supplies Secure Chip Management services for Near Field Communication ecosystems
Helsinki, Munich, December 20, 2006–Giesecke & Devrient (G&D) and Nokia (NYSE: NOK) announced today the completion of a global joint venture. The name of the company is Venyon, and it is 57 percent owned by G&D and 43 percent owned by Nokia.
Venyon prepares the way for mobile operators, transport operators, retailers, banks, credit card companies, and providers of digital services and media worldwide to offer their services and applications to consumers’ Near Field Communication (NFC) enabled mobile devices. With the company’s Secure Chip Management services, consumer applications, such as credit cards or transport tickets can be securely and easily downloaded via a mobile operator’s network to those devices.
The Venyon headquarters are located in Helsinki, Finland and another office in Munich, Germany is already established. Further locations are planned to be opened in Dallas, U.S. and Singapore. Lauri Pesonen, Director and Head of NFC Consumer Solutions at Nokia, has been appointed Chief Executive Officer (CEO) of Venyon as of January 1, 2007. Before joining Nokia in 2004, Pesonen was working in the smart card industry for Setec, now part of Gemalto.
About Giesecke & Devrient
Giesecke & Devrient (G&D), based in Munich, Germany, is an international technology group operating subsidiaries and joint ventures throughout the world. Founded in Leipzig in 1852, G&D began as a printer of securities, and later specialized in banknote production. The company has been developing solutions and complete systems for automatic currency processing since 1970. Today, G&D is also a technology leader in smart cards, and a solutions provider in a wide range of fields, including telecommunications, electronic payments, identification, health, transportation, and IT security (PKI). In fiscal 2005, the Group employed more than 7,500 people and generated a revenue of €1.24 billion. For more information, visit our Web site at http://www.gi-de.com.
Nokia is a world leader in mobile communications, driving the growth and sustainability of the broader mobility industry. Nokia connects people to each other and the information that matters to them with easy-to-use and innovative products like mobile phones, devices and solutions for imaging, games, media and businesses. Nokia provides equipment, solutions and services for network operators and corporations. Further information is available at http://www.nokia.com.
Giesecke & Devrient GmbH
Vera Schuh, Press Officer
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Tel: +49 89 41 19-2985, Fax: -2020
Tel: +358 7180 34900
Nokia Emerging Business Unit
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