Gemalto acquires mobile authentication company Valimo Wireless

3 Feb 2010 at 13:22 GMT Roger G. Pineda

French digital security firm Gemalto has bought the Finnish mobile authentication firm Valimo Wireless. The companies did not disclose the terms of the transaction. The acquisition provides Gemalto a position in the growing mobile financial services market.

Mobile operators use Valimo's software to authenticate financial transactions made through mobile phones. The software is installed in mobile phone SIM cards. Valimo turned profitable last year, and had annual net sales of about 3 million euros.