KBA has bought Swiss security press development and distribution company De La Rue Giori for an undisclosed sum.
De La Rue Giori has developed security presses with the German press manufacturer for 50 years, and also holds a number of patents and licences found on KBAs security products. It was jointly owned by De La Rue and Roberto Giori.
KBA director of investor relations Jan Stradtmann said: "Were keeping the knowledge base of the company. KBA has 90% of the worldwide market in security print. Its a niche market for us."
Stradtmann said KBA would retain De La Rue Gioris 130 workers, and that the company was likely to be renamed KBA Giori.
The deal will be formally recognised in the next two weeks.
Have your say in the Printweek Poll
Related stories
Latest comments
"I have worked in quite a few print sectors, including Walstead in the past. It is all tough, but most will not be surprised that the packaging sector is still growing. However, the service in the..."
""longer run litho work had “now returned to the Far East”?
Is this happening a lot?"
"Thanks Jo, look forward to reading it in due course. Administrators generally argue that they need to act with lightning speed in order to protect the business/jobs, thereby overlooking the fact that..."
Up next...
Revenue up to £3.2m, profits quadupled
Footprint picks up pace of acquisition strategy with Swindon’s C3
Controversy emerges over relationship with potential suitor
National World shares soar on takeover approach
24/7 access for customers
Bakergoodchild launches new SaaS platform
Strategic move for global growth