Gemalto acquires internet banking security specialist Todos
Gemalto, the world leader in digital security, today announced that […]
April 8, 2010
Gemalto, the world leader in digital security, today announced that it has completed the acquisition of Todos AB from investors led by 6AP, a fund belonging to the Swedish National Pension system. Terms of the transaction were not disclosed.
Headquartered in Gothenburg, Sweden, and employing 80 people worldwide, Todos AB is a leading provider of strong authentication solutions for internet banking. Todos has to date delivered in excess of 20 million products to over 100 financial institutions in more than 30 countries. Todos core offer is the eCode Suite, including the Todos Versatile Authentication Server, which enables strong authentication and transaction verification. The Versatile Authentication Server supports all leading industry standards and is augmented by patented technology such as Dynamic Signatures. Using their EMV card and a Todos’ eCode reader, consumers can use their PIN code to securely sign internet banking transactions. An additional layer of security can be provided by displaying transaction details on the reader, so that users “sign what they see”, thwarting in particular “man in the browser” attacks. Over the coming months Todos will be integrated with Gemalto’s Identification and Access Management business line.
Commenting on the transaction, Oliver Piou, Gemalto Chief Executive Officer noted: “Todos is a perfect fit with our e-banking business, bringing a complementary customer base and extending the solution offering. The combined business creates a new leader to address the fast growing internet banking market worldwide”. Ove Wedsjö, CEO of Todos added: “We are really thrilled to become part of the Gemalto family. Our combined products, customers and technologies establish us as the global leader in internet banking. Going forward, I am confident that we will be able to further accelerate our growth, thanks to our extended customer reach, ensuring a safer online environment for e-bankers everywhere”.