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Wednesday 19th December 2001


High Court Approves CardBASE Emergency Investment Plan

CardBASE Technologies has announced that a scheme of arrangement has been approved by the High Court which has taken the company successfully out of examinership.

The under-fire card manufacturer has managed to raise IR£4.3 million in funds following investment from ICC Software Partners and Eastbound which it claims will take the company through to positive cash flow and profitability for 2002.

The scheme, as approved by the Court, makes provision for existing shareholders to subscribe for new shares at the same price as the new investors.

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Keycorp Wins Aus$6m Smart Card Deal

Australian Smart Card manufacturer Keycorp has signed a contract to supply 1.1 million cards and electronic purse modules to a Korean consortium in a deal valued at Aus$6 million. The cards are believed to be set for use with Mastercard's Mcard Select, Mondex and the Korean National ID card.

The Keycorp cards, which are to be manufactured in New Zealand by Security Plastics, will be based on the Multos operating system and integrate an Infineon processor. The Korean consortium consists of Kookmin Bank, Korean Telecom Freetel and Mondex Korea.

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Infineon and Toshiba Chip Alliance Collapses

Negotiations between Infineon and Toshiba to create a memory chip joint venture have broken down after the companies were unable to settle a mutual agreement for co-operation.

"I regret that the mutual talks will not continue and that we could not achieve the results we were looking for", said Dr. Ulrich Schumacher, President and CEO of Infineon. "However, in the consolidating memory market, Infineon has established a strong leadership position."

Dr. Schumacher commented that Infineon continues to remain open to future co-operations with manufacturers of memory chips.

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CVS Selects Hypercom Payment Terminals

Pharmacy company CVS has announced it is to install 4,000 Smart Card-enabled Hypercom ICE 6000 multi-function card payment terminals at 450 of its new drug stores.

CVS plans to deploy the terminals in the first quarter of 2002 after initial field tests are completed. CVS will use the ICE 6000 terminal to combine several point-of-sale applications into a single device and claim the system will significantly reduce costs.

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Datakey Wins Computer Associates Certification

Datakey’s cryptographic Smart Card and interface software package for enterprises (CIP) has been certified ‘ca smart’ with Computer Associates(CA)’ eTrust PKI and eTrust Single-Sign On (SSO). The certification is awarded by CA for the successful integration of solutions with its own technologies.

The combined Datakey/CA Smart Card-based single sign-on and authentication solution is currently being evaluated and piloted by a undisclosed US state. The solution claims to eliminate the need to remember multiple sign on processes, user IDs or passwords.


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