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.