PRESS RELEASE
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Giesecke & Devrient and Phison Set Up Joint Venture
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Munich, Taipei, October 1, 2009 – Giesecke & Devrient (G&D) and Phison, the Taiwanese global market leader in flash and USB controller technology, are joining forces to develop and market secure flash products. Their joint venture – Giesecke & Devrient Secure Flash Solutions GmbH – will be headquartered in Munich (Germany) and will have a second office in Taipei (Taiwan). It will develop and market hardware-based security solutions for mobile end devices, for example in the form of microSD cards and USB tokens. G&D will hold a 70 percent majority stake in the joint venture.
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Mobile end devices for communications and multi-media applications such as notebooks, cell phones, mobile TV equipment and games consoles have become an integral part of everyday life. These applications make it necessary to protect the digital identity of the user. At the same time, mobile transactions made using the equipment and data stored on it also need to be protected against unauthorized access. And that is exactly what the joint venture’s products will do. Giesecke & Devrient Secure Flash Solutions will offer security solutions that are specifically designed for the encryption of e-mails or cell phone conversations, or applications such as mobile pay-TV.
Dr. Kai Grassie, head of the New Business division at G&D, says: “The joint venture marries G&D’s expertise in security solutions with Phison’s expertise in flash and USB controllers. Secure microSD cards and secure USB tokens generate secure applications which will help us conquer new markets.”
Mr. KS Pua, the Chairman of Phison, comments: “For years we’ve had very good access to the mass market for flash storage products. This joint venture is a strategic decision. Combining forces with Giesecke & Devrient puts us in a position to meet our clients’ increased demands for security when it comes to storage solutions.”
Already a market success, the Mobile Security Card developed by G&D using flash controller technology from Phison is a good example of such solutions. In future, the Mobile Security Card will be further developed by Giesecke & Devrient Secure Flash Solutions and marketed by the joint venture. New generations of the Mobile Security Card (e.g. for contactless applications) and other secure flash products are already in the pipeline.
Potential clients include manufacturers and other providers who are interested in integrating secure applications into mobile end devices. These may be PC and mobile equipment manufacturers, system integrators, retailers and/or providers of access systems for mobile TV applications.
You can find further information about Giesecke & Devrient Secure Flash Solutions on the joint venture’s new website at www.gd-sfs.com & www.phison.com
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About Giesecke & Devrient
Giesecke & Devrient (G&D) is a leading international technology provider headquartered in Munich, Germany. With a headcount of around 10,000 employees, the Group generated sales of EUR 1.7 billion in fiscal 2008. Founded in 1852, G&D is a global market leader and pioneering innovator in banknote production and processing, smart card solutions for telecommunications and electronic payment, and security documents and identification systems. Over 49 subsidiaries and joint ventures across 30 countries ensure customer proximity worldwide. For more information, visit our website at:www.gi-de.com.
About Phison Electronics Corp.
Phison excels in NAND flash memory controller technology and related applications. Phison is a total solution provider with expertise in IC design, product development and manufacturing. Additional information about Phison is available at www.phison.com
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Below are some information about G&D which I abstract from the website. FYI.
The Evolution of a Company
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Innovation based on tradition
Giesecke & Devrient (G&D) is a leading international technology provider headquartered in Munich, Germany. Founded in 1852, today G&D is a global market leader and pioneering innovator in banknote production and processing, smart card solutions for telecommunications and electronic payment, and security documents and identification systems.
International orientation
The G&D Group, based in Munich/Germany, comprises over 49 subsidiaries and joint ventures across 30 countries, employing 9,849. In the financial year 2008 the group generated sales worth euro 1.69 billion. G&D has a strong international orientation. For an overview of all subsidiaries and joint ventures please have a look here.
Shaping the future
As a high-technology enterprise, G&D gives high priority to research and development, investing 109 Mio. Euro in these activities. Products and services complement and enhance each other in such a way that operations remain largely unaffected by cyclical fluctuations. G&D develops products of a high standard and uses environmentally responsible production methods.
Security and competence are the company’s watchwords. Its customer-centric products, systems, and services make G&D a reliable partner for any organization needing to solve complex problems in security-related fields. G&D is the one partner around the globe people trust to safeguard the value of their assets.
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Annual Report 2008
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Giesecke & Devrient boosted sales by almost nine percent to approximately EUR 1.7 billion. Building on strong double-digit growth in 2007, the company continued its successful performance during fiscal 2008.
And as in 2007, all business units contributed in more or less equal measure to this ongoing expansion. G&D’s earnings situation was also gratifying, with double-digit growth in both gross and operating profit. In 2008, we continued pursuing our strategy to strengthen innovative power and customer focus. We once again stepped up spending on research and development and sales, paving the way today for tomorrow’s market success. Impacted by exchange rate effects and declining stock prices, Group earnings before interest and taxes (EBIT) remained at approximately the same level as fiscal 2007.
We were able to increase the value of Giesecke & Devrient by some EUR 100 million in 2008, as measured by our economic value added (EVA) indicator. In short, by systematically increasing investment as part of a sound financial policy, we were able to generate substantial liquidity. This leaves us well placed to continue along our successful long-term growth path despite current market challenges.
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Key financial Data of the Giesecke & Devrient Group
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2008
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2007
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Net sales
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1.689,1
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1.551,0
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EBIT
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159,8
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161,2
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Net income
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111,0
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96,1
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Headcount at Dec. 31
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9.849
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8.919
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Capital expenditure
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106,2
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68,3
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Research & development
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108,8
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96,4
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Data in millions Euro
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