Oberthur Technologies, a digital security company for the mobility space, today announced it has signed an agreement to acquire NagraID Security SA, according to a press release. 

NagraID Security SA develops and markets powered display cards to secure access to the cloud, primarily for companies operating in the field of financial payments, authentication and identification solutions, using one-time password (OTP) or dynamic card verification value (DCVV, the 3 or 4 digit security code printed on payment cards) technologies.

Oberthur will acquire a 100 percent equity stake of NagraID Security SA from the Kudelski Group and the company's management.

"Thanks to the acquisition of NagraID Security's exclusive powered display card technology, OT is making a significant move on the very competitive payment card market, and in particular helping to reduce fraud for all card non-present transactions," Didier Lamouche, president and CEO of Oberthur, said in a statement. "Furthermore, the acquisition will enrich OT's offering to financial institutions. I am very confident that the talented teams of NagraID Security will contribute to our ambitious development strategy."

The transaction is expected to close in the coming weeks. Financial terms of the transaction were not disclosed.