Linklaters has advised Bundesdruckerei GmbH on the formation of a joint venture with Giesecke & Devrient GmbH. The new joint venture will operate under the name Veridos GmbH and bundle both partners’ international business with solutions for secure identification, such as passport and ID card systems for governments. Bundesdruckerei will hold a 40% share in Veridos and G&D a 60% share.

The parties have agreed on Berlin as the new company’s headquarters. Additionally, the company will have an operating facility in Munich, a production site in Greece and other subsidiaries in Canada, Mexico and Brazil and will operate independently on the international market. Subject to approval under competition law, Veridos will commence business operations in mid-2014.

The parties continue to independently pursue their business in Germany, their business activities on the private sector market and in banknote printing.

Bundling their foreign business for government solutions in one company, Veridos will be a one-stop supplier and technology leader for ID solutions for the international government market. Veridos will provide a total of around 400 jobs.

Bundesdruckerei and G&D both contribute technological know-how, established international customer relationships and valuable experience of their staff to the joint venture. The portfolio ranges from one-stop solutions for the production and personalisation of passport documents, ID cards and cards for the health sector as well as driving licences via issuance, personalisation and document management systems right through to solutions for border control and identification of individuals. eID systems to authenticate and protect electronic internet transactions and to safeguard communications by public agencies are another important part of this portfolio.

A Linklaters team led by Christopher Bremme (Corporate, Berlin) advised on the transaction. The team also included Dr Detlev Schuster (Corporate, Berlin), Dr Jan Endler (Public Law, Berlin), Oliver Rosenberg, Kirsten Placke (both Tax, Düsseldorf), Dr Martin Borning (Corporate, Berlin), Thorben Eisenbeiß (Employment, Munich), Martin Dressel (Corporate, Berlin), Dr Christian Ley (Employment, Munich), Julia Sack, Anna Reshetina (both Corporate, Berlin), Alexander von Heinz, Dr Ferry Bühring (both Public Law, Berlin), Beatrice Möller, Dr Jens Hollinderbäumer, Dr Katja Kupko (all Corporate, Berlin) and Elena Rodriguez (Corporate, Madrid).