MUNICH, GERMANY - Giesecke & Devrient (G&D) and Bundesdruckerei GmbH have signed a contract to establish a joint venture which is to operate under the name Veridos GmbH. The partners are bundling 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 on 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 on the international market. The supervisory bodies of both companies, the 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.
"These two distinguished German specialists in secure government solutions are a perfect match both in terms of their products and in other key areas. Together, we can create one strong German systems supplier in a continuously growing international market," explains Dr. Walter Schlebusch, CEO of Giesecke & Devrient. "The new company will be a one-stop supplier and technology leader for ID solutions and hence a reliable partner for governments around the globe."
Ulrich Hamann, CEO of Bundesdruckerei GmbH: "Government demand for secure identity solutions and products is growing all over the world. Veridos will benefit from the innovative strength and many years of experience which Bundesdruckerei and G&D have in high-security technology, so that the company will be in an excellent position to compete on an international level."
For many years now, Giesecke & Devrient and Bundesdruckerei have been successfully co-operating in projects on the international market. 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.
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. Veridos will provide a total of around 400 jobs.
