Schlumberger today announced that its Test & Transactions business unit has made a strategic investment in ActivCard S.A..
The $3 million investment, subject to February 9, 2000 approval of ActivCard’s shareholders, provides Schlumberger with 174,825 newly issued shares of ActivCard stock at $17.16 per share. Separately, ActivCard will nominate Irwin Pfister, executive vice president of Schlumberger, to its board of directors, subject to approval by ActivCard shareholders at its annual meeting planned in May 2000.
“ActivCard’s digital identity technology is a strategic component in the Schlumberger smart card-based corporate ID solution for physical and network access, which the company began implementing in five key international locations in 1999 using an internal LDAP directory and Entrust Technology’s PKI technology,” said Ashok Belani, vice president of Business Development at Schlumberger Test & Transactions. By delivering smart card-based digital identity to ensure user authenticity, the companies’ e-business systems provide secure access control, user authorization, data integrity, data confidentiality, and non-repudiation. Schlumberger has been providing smart cards to ActivCard for several years.
ActivCard is a key partner to Schlumberger in the provision of corporate ID security solutions.
ActivCard S.A. (EASDAQ: ACTV) develops, markets and supports software and related products that provide or enable authentication, electronic certification and digital signatures for use on the Internet or in network systems, services and applications. ActivCard has corporate headquarters in Fremont, CA; Suresnes, France; and Singapore. Further information is available at (510) 574-0100, e-mail: email@example.com and web site: [www.activcard.com].
Schlumberger Test & Transactions provides smart card-based solutions; semiconductor equipment and services; and corporate IP and network solutions to customers throughout the world. It is a business unit of Schlumberger Limited, an $11.8 billion global technology services company. Additionally information is available at .