The company said the transaction, expected to be completed by year end, concerns all of the current activities of the banking business unit including products, IP and technologies related to EMV based authentication solutions.

Gemalto said the combination of Xiring's banking activity with its own products will strengthen its position as a provider of EMV based authentication solutions for e-banking and e-commerce.

Earlier this month, the company increased its investment in software-as-a-service (SaaS) provider Serverside, with an option to potentially acquire the company at a later date. In September, it acquired secure software platforms vendor Trusted Logic in which it already held a 32% stake.

A service of YellowBrix, Inc.