Oberthur Technologies Acquires MoreMagic

Oberthur Technologies has completed its acquisition of mobile payments company MoreMagic.

The deal will bring MoreMagic's offering into Oberthur's portfolio solutions. The two companies will also work together to create a suite of mobile financial services and commerce solutions, including a secured mobile wallet infrastructure and NFC end-to-end offer. 

“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,” says Oberthur Technologies CEO Xavier Drilhon. “The complementarities between our respective technological bricks will perfectly fit the needs of our clients, in both mature and developing countries.”