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2011-01-17
Imprimerie Nationale Group (French National Printing House) joins the FCDE to SPS capital

Rousset, France, January 17, 2011 - Imprimerie Nationale Group (IN) invests 2 million Euros in Smart Packaging Solutions (SPS) and joins the « Fonds de Consolidation et de Développement des Entreprises » (FCDE) as reference shareholder of SPS.

SPS specializes in the development of high value added, innovative microelectronic modules dedicated to the new-generation-smart-cards for the Identity and Banking Sectors (Dual Interface).

SPS is positioned on fast growing markets:

  • The Identity Market (boosted by demographic growth, international travels, and post September 11TH security measures) with growth perspectives for 2009-2015 of around 15.9% for Passports and 6.7% for National Identity Cards.
  • The Banking Market, supported by the growing need to improve the security of transactions and to accelerate contactless payment processes, also faces a growth of more than 15% per year for 2009-2015.

The Capital Increase jointly subscribed by the IN Group, the FCDE -5 Million Euros – and the management
of SPS - half a Million Euros- will enable SPS to::

  • finance the working capital generated by the start of major new contracts
  • grant continued attention to its main customers large industrial and public contractors
  • secure its growth

"The participation of the FCDE in the capital of SPS allows the company to consolidate its financial structure and to stabilize its shareholding. The participation of the IN, partner of SPS for several years, is crucial for the development of our company. In the end, the arrival of these two investors will allow us to establish ourselves sustainably on the fast growing contactless e-ID and Banking markets", says Philippe Patrice, President and General Manager of SPS.
To mark this occasion, Didier Trutt, President and General Manager of the IN Group remarks: "Through this shareholding, we strengthen our position as operator of trust and "agnostic technology integrator", especially with regard to the realization of the new identity documents containing electronic security features. FCDE's entrance in SPS' capital represents for us a guarantee for SPS' future and belief in its prospects."
Pierre Taillardat, Member of the board of Directors of FCDE states: "We have been seduced by the team and the solutions developed by SPS. The unique technology of SPS represents a major breakthrough on the growing Identity and Banking markets. Universal and compliant with all the solutions on the market, its technology will enable SPS to strengthen its existing relations with the leading actors of the sector."

About SPS

Established in 2003, Smart Packaging Solutions (SPS) supplies high value added electronic components, dedicated to the Smart Card Market.
Located in Rousset, SPS relies on the expertise of its 80 employees, among which 1/3 is dedicated to research and development, and has a last-generation production site granting high production capacity, that allows SPS to respond to the needs of its customers and the strong growth in the demand of the markets. The products designed

by SPS, integrated in smartcards, allow for a contactless communication between the microchip and the reader. Based on an innovative and approved technology, secured by a portfolio of more than 120 patents, SPS' components grant high performances in terms of reliability, security and lifetime. The components are dedicated to the demanding segment of the Smart Card market, whose annual growth is expected to exceed 20%.

  • E-Identity: Passports and electronic ID cards boosted by demographic growth, international travels, and post September 11th security measures.
  • Dual Interface Banking Cards supported by the development of contactless applications and the new international standards (EMVco).

SPS has strong references in particular in the e-ID market and since 2010, in the Banking market. On this market, SPS' proprietary technology met immediate success with the main players by allowing them to answer the global growing demand for dual interface smart cards, thanks to which both contact and contactless payment terminals can be used.

www.s-p-s.com

About FCDE

The mission of the FCDE is to join the capital of small and medium enterprises that have been considerably weakened by the crisis. Public and private investment fund of 200 million Euros, the FCDE is financed for 90 million Euros by the FSI in partnership with key banking and insurance companies of the French market. The FCDE is a key component of the FSI's frame of policies aimed at supporting SMEs. It is managed by Consolidation et Developpement Gestion, minority subsidiary of the CDC enterprises.

www.fonds-fcde.fr

About Imprimerie Nationale Group

Technology and reliable solutions integrator for citizens' documents, through its activities:

  • Authentication of persons and goods, citizens protection.
  • Graphic Services Platform.
  • Electronic Documents Handling.

Key figures:

  • More than 15 Millions of secured documents per year.
  • Up to 20 000 passports per day and 20 000 registration certificates per hour.
  • 700 000 chronotachygraphic cards in travelers transport and goods.
  • 50 million of edited correspondence.
  • 50 million of postal account statements per year.

www.imprimerienationale.fr

Participants of the operation:

  • SPS(Philippe Patrice, Blandine Ravet).
  • FCDE(Pierre Taillardat, Julien Di Marco).
  • Groupe Imprimerie Nationale(Didier Trutt, Patrick Montliaud).
  • Conseil financier SPSa+b finance (Gilles Cabassu) avec le concours de FVB Conseil (Françoise Vial-Brocco).
  • Conseil juridique SPSCabinet Lestournelle (Christian Lestournelle).
  • Conseil juridique FCDEClifford Chance (Gilles Lebreton, Marianne Pezant).
  • Conseil juridique Groupe Imprimerie NationaleSekri Valentin Zerrouk (Franck Sekri).
  • Due diligence financièreDeloitte (Tristan Doquet-Chassaing, Vania Mermoud).
  • Due diligence légaleTaj (Arnaud Mourier, Véronique Beal-Child, Jérôme Gertler).
  • Due diligence industrielleKepler (Lionel Muller).
  • Due diligence propriété intellectuelleKweetzy (Pierre Breese).
  • EvaluationDuff & Phelps (Yann Magnan, Baptiste Gormand).

Contacts:

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