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Gemalto increases stake in mobile payments company

Tuesday, January 5, 2010

Gemalto confirmed that it has increased its investment in Netsize, with an option to potentially acquire the company outright at a later date. Terms of the transaction were not disclosed.

Netsize offers mobile payment products based on operator billing –through premium SMS, MMS and WAP–for 100 mobile operators in 28 countries, reaching more than 1 billion billable subscribers worldwide.

Netsize was founded in 1999 by Stanislas Chesnais, who will remain as CEO. Prior to this capital increase, Gemalto already held a 24% stake of Netsize. Headquartered in Levallois Peret, near Paris, Netsize employs approximately 180 people. Netsize will continue to operate as a stand-alone company within the Gemalto Group. [end] 

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