Ardian SA, formerly AXA Private Equity, has purchased a 49 percent stake in Micropross, a provider of products and services for the smart card sector.
No financial terms were disclosed.
The Lille, France-based target, which makes components used in data storage cards, will continue to be led by current CEO Philippe Bacle and managing director Max-André Lepoutre.
Ardian's last investment was in January when it picked up a 9.9 percent stake in Fondi Italiani per le Infrastrutture SGR SpA, a Milan-based provider of investment management services, from Bank of America Merrill Lynch for $ 206.384 million in cash.
More M&A in the smart card sector is cropping up as the technology in the space becomes more advanced. In August, Lecip Holdings Corp. agreed to acquire the entire share capital of Arcontia International AB, a Swedish manufacturer of smart card readers, from Aveqo Venture AB for $773.1 million.