Gemalto Acquires Mobile Payment Platform From Ericsson

Gemalto announced that it closed the acquisition of Ericsson Internet Payment Exchange AB ("IPX") with the exception of operations in USA, from Ericsson.

"Acquiring IPX is a natural step for us in supporting the ramp up of MNO and mobile service providers related payment and identity services," said Olivier Piou, CEO of Gemalto. "IPX's positioning, as an international player built on Ericsson advanced technology, is really a perfect fit with Gemalto".

As part of the transaction, Gemalto is also acquiring Ericsson's Trusted Service Manager (TSM) activity. IPX will join Gemalto's Software & Services business line in the Mobile Communications segment.