TOPPAN HOLDINGS ACQUIRES HID CITIZEN IDENTITY SOLUTIONS

Rhea-AI Summary

TOPPAN Holdings Inc. (TYO: 7911) has announced a definitive agreement to acquire HID's Citizen Identity Solutions (CID) business from HID Global This acquisition will establish TOPPAN as a major leader in security and identity solutions, expanding its global footprint and portfolio. HID's CID business has over 20 years of experience in delivering innovative technologies to more than 50 countries worldwide.

The acquisition is set in the context of a US$10 billion global government identity sector with strong fundamentals, including the growth of mobile IDs and Digital Travel Credentials. TOPPAN views this move as a strategic expansion into new markets and an enhancement of its capabilities and offerings to clients.

Jean-Pierre Ting, President of TOPPAN Gravity, highlighted the complementary nature of the two companies' technologies and expertise. Chee Tong Yeo, President & CEO of TOPPAN NEXT, emphasized the strengthened position of TOPPAN as an industry leader offering a wider range of end-to-end government identity solutions.

Positive

• Acquisition of HID's CID business establishes TOPPAN as a major leader in security and identity solutions
• Expands TOPPAN's global footprint and portfolio of advanced secure technology
• Targets the US$10 billion global government identity sector with strong growth potential
• Enhances TOPPAN's capabilities in mobile IDs and Digital Travel Credentials
• Strengthens TOPPAN's position to offer a wider range of end-to-end government identity solutions

Negative

• None.

SINGAPORE, Oct. 18, 2024 /PRNewswire/ -- TOPPAN Holdings Inc. (TYO: 7911) (TOPPAN Holdings) has announced that it has entered into a definitive agreement to acquire HID's CID (Citizen Identity Solutions) business area, a division of HID Global Corporation focused on the government identity sector.

The acquisition will firmly establish TOPPAN as one of the largest leaders in security and identity solutions, expanding its global footprint and portfolio of advanced secure technology and expertise.

At the forefront of secure government identity solutions, HID's CID business comes with over 20 years of experience delivering innovative technologies to more than 50 countries worldwide. The business has differentiated itself over time through its vertically integrated platforms present in every major continent.

"HID's CID business has proven capabilities in delivering secure identity solutions, which accelerates the expansion of TOPPAN's global operations," said Jean-Pierre Ting, President of TOPPAN Gravity. "The combination of our experienced teams, shared cultural values, strong track records and complementary technology will create a formidable force in the global government identity sector."

TOPPAN and HID believe that the US$10 billion global government identity sector continues to exhibit strong, resilient fundamentals across market cycles, including the growth of mobile IDs and Digital Travel Credentials (DTCs). The acquisition demonstrates TOPPAN's continued commitment to expand into new markets and strategically grow its capabilities and offerings to its clients.

"HID has built a remarkable citizen identity business," said Chee Tong Yeo, President & CEO of TOPPAN NEXT, the parent company of TOPPAN Gravity. "This acquisition strengthens TOPPAN's position as an industry leader, offering a wider range of end-to-end government identity solutions. We're excited about the new opportunities this will create for our clients and look forward to working with teams across both HID CID and TOPPAN Gravity."

For media queries, please contact:

Kenny Yeo
kennyyeo@toppannext.com
SVP, Group Brand & Marketing
TOPPAN NEXT

About TOPPAN Holdings Inc.

TOPPAN Holdings inc. is a leading and diversified global provider committed to delivering sustainable, integrated solutions in fields including printing, communications, security, packaging, décor materials, electronics, and digital transformation. The TOPPAN Group's global team of more than 50,000 employees offers optimal solutions enabled by industry-leading expertise and technologies to address the diverse challenges of every business sector and society and contribute to the achievement of shared sustainability goals. 

TOPPAN Holdings wholly owns TOPPAN NEXT, which in turn wholly owns TOPPAN Gravity. 

For more information, please visit www.holdings.toppan.com/en. 

About HID and HID's CID Business Area

HID Global Corporation is an ASSA ABLOY brand and a prominent provider of secure identity solutions, recognized for its comprehensive product range and expertise in the identity management industry. HID's CID (Citizen Identity Solutions) business area is wholly owned by HID that specializes in government ID solutions, delivering an integrated approach that spans the entire identity lifecycle.

View original content:https://www.prnewswire.com/news-releases/toppan-holdings-acquires-hid-citizen-identity-solutions-302280156.html

SOURCE TOPPAN NEXT PTE. LTD.

FAQ

What company is TOPPAN Holdings acquiring?

TOPPAN Holdings is acquiring HID's Citizen Identity Solutions (CID) business, a division of HID Global focused on the government identity sector.

What is the value of the global government identity sector that TOPPAN is targeting with this acquisition?

The global government identity sector that TOPPAN is targeting with this acquisition is valued at US$10 billion.

How many countries has HID's CID business provided solutions to?

HID's CID business has provided innovative technologies to more than 50 countries worldwide over its 20+ years of experience.

What are some of the growth areas in the government identity sector mentioned in the press release?

The press release mentions the growth of mobile IDs and Digital Travel Credentials (DTCs) as key areas in the government identity sector.

Who is the President of TOPPAN Gravity mentioned in the press release?

The President of TOPPAN Gravity mentioned in the press release is Jean-Pierre Ting.