Oberthur Card Systems announced the $3.3 million acquisition of the remaining 50 percent of Rapsodia Software from French customer relationship management specialist, Prosodie.
Rapsodia Software, set up in May 1999 as a joint venture between the two companies, will become a fully integrated business division of Oberthur Card Systems under the management of Olivier Leroux its current managing director. The software is a critical part of the smart card leaderÂs full range of value-added services it provides its global customer base.
ÂWe set our sights a while ago on making the shift from being a Âsmart card providerÂ to working with our customers to provide them with a complete end-to-end solution,Â noted Thomas Savare, chief executive officer of Oberthur Card Systems. ÂThis acquisition consolidates this shift; we have acquired a technology expertise that is key to our chip card solution offer.Â
Rapsodia Software operates within the wireless industry to provide innovative software platforms for mobile value-added services. Headquartered near Paris in Boulogne Billancourt, Rapsodia also has an office in Hong Kong, a headcount of approximately 50 people and generated revenues of $3.2 million in 2000 (compared to $1 million in 1999).
Rapsodia Software has delivered wireless software (SIMphonIC platform) to 20 customers in Europe and Asia, most notably a multi-application GSM portal to Philippine-based operator Smart Communication for which it was awarded the GSM Association title of ÂThe Most Innovative Wireless GSM Service for CustomersÂ. As the leader of solutions for the remote management of interoperable open platform cards, Rapsodia Software helps customers generate new revenue streams and increase market penetration.
Following the acquisition of card management specialist, Smart Cards International in 2000 and the creation of its consulting arm, Oberthur Advise, earlier this year, this latest investment by Oberthur Card Systems strengthens its leading position as the solutions and services provider in the smart card market.
This agreement does not end the strong business relationship established between Rapsodia and Prosodie who will continue to offer solutions based upon RapsodiaÂs technology. The collaboration between the two companies has been further reinforced by the signing of a distribution contract allowing Prosodie to offer RapsodiaÂs solutions to mobile operators.
The acquisition of Rapsodia was completed on July 23, 2001.
About Oberthur Card Systems
Oberthur Card Systems (Paris Stock Exchange – Code SICOVAM 12413), a global leader and the innovator in the smart card industry, is shaping the future by offering the ultimate in SIM, WAP, 3G (IMT-2000/UMTS), e-wallet technologies & Internet-based card management services coupled with a firm commitment to open standards.
Championing EMV migration, Oberthur is the worldÂs #1 supplier of MasterCard and Visa cards, #1 in banking, e-commerce, m-commerce and pay-TV, Oberthur is also the #1 in JavaTM and GSM technologies.
Oberthur Card Systems has an international reach ensured by 30 sales offices and 20 manufacturing sites across the five continents. Oberthur Card Systems had sales of 451.1 million Euros in 2000.