Digital security firm Gemalto has subscribed to a capital increase in Netsize, with an option to potentially acquire the company outright at a later date. The terms of the transaction were not disclosed.
Netsize offers mobile payment solutions based on operator billing through Premium SMS, MMS and WAP, for 100 mobile operators in 28 countries, reaching over 1 billion billable subscribers worldwide. The company also provides mobile messaging services, delivering SMS and MMS messages to consumers in over 200 countries.
Netsize was founded in 1999 by Stanislas Chesnais, who will remain as CEO. Prior to this capital increase, Gemalto already held 24% of Netsize. Headquartered in Levallois Peret, near Paris, France, Netsize employs approximately 180 people. Netsize will continue to operate as a standalone company within the Gemalto Group.
Gemalto invested in Netsize back in 2001 and was the first and largest outside investor in Netsize, says Gemalto CEO, Olivier Piou. It is a natural extension of our long term relationship that Gemalto now becomes Netsizes majority shareholder. Netsizes mobile payment platform complements our rapidly expanding mobile software and services offering.