Oberthur to Acquire Mobile Money Provider MoreMagic

Oberthur Technologies has entered into agreement to acquire MoreMagic Solutions, a mobile financial services solutions provider, based in Waltham, MA.

Xavier Drilhon, CEO of Oberthur Technologies: “The acquisition of MoreMagic is fully in line with our growth strategy notably in our Solutions business and more specifically in the NFC eco-system. The complementarities between our respective technological bricks and Oberthur Technologies’ TSM expertise will perfectly fit the needs of our clients, in both mature and developing countries.”

This acquisition remains subject to the consultation of employees work council and other customary approvals, including from relevant antitrust authorities.