According to a recent press release, Gemalto, Dutch secure personal devices specialist, said it has closed the divestment of its point-of-sale (POS) solutions business to U.S. secure electronic payment solutions firm, VeriFone Systems, under a strategic partnership deal.

The financial terms of the deal, which were completed on Dec. 31, 2010, were not disclosed.

With the acquisition, Verifone will be able to plan its expansion in Europe, the buyer said. The cooperation accord announced in October 2010, also includes the joint launch of EMV chip card solutions in the U.S. and an agreement for Gemalto (News - Alert) to become VeriFone's preferred supplier of Machine-to-Machine (M2M) wireless modules.

Gemalto is instrumental in providing end-to-end security solutions that are designed to make personal digital interactions more convenient, safe and enjoyable. The company is involved in range of activities that includes development of software applications through the design and production of secure personal devices such as smart cards, SIMs, e-passports and tokens, to the deployment of managed services for our customers.

The company provides its solutions to more than 1 billion people worldwide across various sections like telecommunications, financial services, e-government, identity and access management, multimedia content, digital rights management, IT security, mass transit and many other applications.

On the other hand, Verifone is a global leader in secure electronic payment technologies that provide solutions, services, and expertise that enable electronic payment transactions and value-added services at the point of sale. The systems and devices provided by the company process a broad spectrum of payment types including signature and PIN-based debit cards, credit cards, EMV smart cards, contactless, value-added applications, and signature capture.

Verifone’s solutions incorporate existing and emerging technologies, comply with the latest global security standards, and take advantage of the latest connectivity options from GPRS, CDMA, and Wi-Fi to IP and Bluetooth-enabled devices.

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Rahul Arora is a TMCnet contributor. He has worked as an editor and freelance writer for several reputed organizations in India. To read more of his articles, please visit his columnist page.

Edited by Jaclyn Allard