Gemalto, a France-based digital security provider, has merged two of its corporate venturing unit’s portfolio companies.
Keynectis has entered exclusive talks to acquire peer OpenTrust. Pascal Colin, chief executive of Keynectis, said: "Both companies, located in Issy-les-Moulineaux, the French Silicon Valley, have a strong common background. Combining the products of the two companies will result in a portfolio that will meet broader market needs. Moreover, this operation is backed by Keynectis shareholders that are key players in the Trust & Security marketplace".
Keynectis, which was born from the merger of Certplus and PK7, has as its shareholders: Gemalto, Morpho (Safran Group), CDC (Caisse des Dépôts et Consignations), Euro-Information (Crédit Mutuel-CIC Group), TDH (Thierry Dassault Holding) and Imprimerie Nationale (National Printing Group).
OpenTrust, formerly known as Idealx, is primarily funded by GemVentures, the corporate venturing fund of Gemalto set up in 2000, and venture capital firms Iris Capital, Crédit Agricole Private Equity, Elaia Ventures, Seeft Ventures and 123Venture.
Oddo Corporate Finance and ReedSmith, advised and counseled Keynectis, respectively, while Cannacord and Chamas & Marcheteau played the same respective roles for OpenTrust.