Identity, Security, Payments, Biometrics, Smart Cards and Authentication News

ASK gets cash infusion

Thursday, September 11, 2008

French contactless and RFID technology company ASK has announced a new round of financing worth $15.54 million. The new funds come from three investors, with XAnge and CDC Entreprises each chipping in almost $6 million and CDC Innovation contributing $1.3 million.

ASK indicated the new financing to strengthen its R&D efforts and to take advantage of new market opportunities, mainly in the banking and identity document areas. In October 2002, Ask closed a round of financing of $15.8 million from a variety of investors.

ASK, founded in 1997, is a provider of contactless products with a market that includes more than 50 countries. ASK reported sales of 30.5 million euros ($43.1 million) in 2007. [end] 

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