PRETORY U.S.A. TO TAKE OVER MAJORITY INTEREST IN GERMAN SMART CARD MANUFACTURER
Pretory U.S.A., a marketer of security, detection and medical devices, announces that it has purchased an option to acquire 87 percent of Thendic Electronic Components GmbH of Aschaffenburg, Germany. The transaction is scheduled to close, subject to diligence and final negotiations, in the second quarter of 2000. Thendic develops, manufactures and supplies smart card and magnetic stripe point-of-sale devices for a variety of electronic payment systems as well as individual software solutions inclusive of loyalty programs, security systems, access control and contact-less solutions.
Pretory intends to develop the proprietary technology into smart card applications to provide security features and product offerings targeted toward the Internet and mobile communications. “The addition of Thendic’s proprietary technology to Pretory’s product line will allow the company to position itself as a premiere provider of security and security-related products over the Internet,” says Helmut Jost, CEO of Pretory.
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