GE to acquire interest in smart-card company

GE to acquire interest in smart-card company

GE Capital of Stamford, CT, has signed an agreement to acquire a significant equity interest in Gemplus Group, a French smart-card vendor. In addition to the equity investment, the companies will work together on developing new products and services.

The support of GE will help Gemplus expand into promising new markets such as healthcare, according to Marc Lassus, CEO and founder of Gemplus. Smart cards hold much potential in healthcare by enabling the storage of patient information on highly portable media.