Maxim augments market presence

The acquisition has been made to expand Maxim’s presence in the $350m financial transaction terminal semiconductor market. Maxim Division vice president, Chris Neil, commented: “Financial institutions, businesses and governments all want to move from cash transactions to electronic financial transactions for convenience, efficiency and accountability reasons. Innova Card’s open platform, based on their 32bit secure microcontroller and precertified reference design, will open the market to dozens of terminal makers, lowering implementation costs and accelerating the growth of the electronic transaction market throughout the world.” Maxim’s executive director of the microcontroller business unit, Don Loomis, added: “The addition of Innova Card to Maxim gives us a great strategic position to stay ahead of increasing security and performance requirements brought by the new PCI-PED 2.0 security standard. Furthermore, it provides an excellent means to increase the penetration of all of Maxim’s silicon offerings in the secure transactions market.”