Bundesdruckerei has acquired a 25.1% share in cv cryptovision. With this move, the German state-owned company says it is not only expanding its expertise in the field of high-efficiency encryption techniques but also strengthening its market standing as a full-service provider of ID security systems. The involvement takes retroactive effect as of 1 January 2013.
Bundesdruckerei says it has gained global recognition as an innovation driver in the field of secure ID technology. In acquiring shares in cryptovision, it is strengthening its technological know-how in the development of forward-looking cryptography technologies, thus securing significant competitive advantages.
“Protection of personal and other confidential information plays a central role in our digital society. The security requirements placed on eID solutions are increasing continuously,” says Ulrich Hamann, CEO, Bundesdruckerei. “With our investment in cryptovision, we are expanding our range of solutions and products along the entire ID process chain.”
cryptovision is one of the leading providers of secure electronic identity and digital information protection solutions. Founded as a spin-off of Essen University, the company specialises in modern cryptography methods and public key infrastructures (PKI) for government authorities and private commercial sectors. cryptovision was commissioned by the German Federal Office for Information Security (BSI) to participate in developing the EAC (Extended Access Control) standard for ePassports and played a key role in this project. Among the products attracting high international demand is the cv act ePasslet suite, a comprehensive collection of applications for sovereign electronic documents. It is used, for example, for the eID cards of Rwanda and Armenia and ePassports of Moldova and Ecuador. The company is also setting up a PKI to be used for issuing, distributing and verifying digital certificates before the introduction of eID cards in Nigeria.
The two companies have already been involved in a number of joint projects: Bundesdruckerei uses cryptovision’s basic cryptography technology in its VISOTEC Border Control product range.
“In view of our excellent cooperation in the past, we are happy to welcome Bundesdruckerei as one of our shareholders,” says Markus Hoffmeister, CEO, cryptovision. “Now we will be able to exploit further synergy effects in future, particularly in the field of cutting-edge eID technology.”
The share was acquired from funds managed by Sobera Capital.