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
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.
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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.
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