G&D and Bundesdruckerei merge overseas government business


Giesecke & Devrient (G&D) and Bundesdruckerei have signed a contract to establish a joint venture which is to operate under the name Veridos.

The deal, which has been on the block for many months, see the partners bundle their international business with solutions for secure identification, such as passport and ID card systems for governments.

The new company is to be headquartered in Berlin. Bundesdruckerei and Giesecke & Devrient will, however, continue to independently pursue business in Germany, their business activities in the private sector market and in banknote printing.

Giesecke & Devrient will hold a 60% share in Veridos and Bundesdruckerei 40%. In addition to its headquarters in Berlin, Veridos will also have an operating facility in Munich, a production site in Greece and other subsidiaries in Canada, Mexico and Brazil and will operate independently in the international market. The supervisory bodies of both companies, G&D shareholders and the Federal Ministry of Finance as owner of Bundesdruckerei have all approved the establishment of this joint venture.

Subject to approval under cartel law, Veridos will commence business operations in mid-2014.

For many years, Giesecke & Devrient and Bundesdruckerei have been co-operating in international projects. They are producing the driving licence for Latvia, and last year, they won a tender together for the issuance of the electronic ID card in Kosovo. At the same time, global demand by governments for ID solutions is growing as the number of people travelling by air is growing by around 5% each year. Both companies are supplying important security solutions to meet this demand. The protection of identities is also becoming more and more important. As is the importance of forge-proof ID documents and border control systems that permit fast clearance while guaranteeing outstanding security.

According to the companies, the new company will benefit from the technological know-how, established international customer relationships and valuable experience which both partners and their staff will contribute. The portfolio ranges from one-stop solutions for the production and personalisation of passport documents, ID cards and cards for the health sector as well as driving licences to issuance, personalisation and document management systems right through to solutions for border control and identification of individuals. eID systems to authenticate and protect electronic transactions on the net and to safeguard communications by public agencies are another important part of this portfolio, the companies said.

Veridos will provide a total of around 400 jobs.

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Veridos to be the name of merger between G&D and BDR's government business
Veridos to be the name of merger between G&D and BDR's government business

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