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Digital security giant Gemalto announced today that it has closed the acquisition of Ericsson Internet Payment Exchange AB, with the exception of operations in United States, from Telefonaktiebolaget LM Ericsson.
Stockholm-based IPX was created by Ericsson and has developed one of the leading mobile payment and messaging platforms in the world, according to a news release from Gemalto. IPX connects more than 1,000 customers to more than 120 mobile network operators.
IPX also operates payment platforms as a white label service for various operators. As part of the transaction, Gemalto is also acquiring Ericsson's trusted service manager activity. IPX will join Gemalto's software and services business line in the mobile communications segment. Terms of the transaction were not disclosed.
"As part of Ericsson, IPX has built a robust platform and a worldwide business," said Richard Anell, head of IPX. "Going forward, Gemalto's dedication to developing mobile money, mobile identity and mobile security, and expertise in advanced secure cards and NFC, will be key to expanding our offers and accelerating our growth. We are very pleased and excited to have a new owner with great interest in our business and such complementary solutions."
"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".
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