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IN Groupe acquires Gleitsmann Security Inks



Paris (France), Kirchheim (Deutschland) ;
July 12, 2023 

IN Groupe announces that it has agreed to acquire 100% of the shares of Gleitsmann Security Inks GmbH (“GSI”) from hubergroup Deutschland GmbH for an undisclosed consideration in cash.

IN Groupe is a French-headquartered global specialist in identity and secured digital services, addressing more than 130 countries in the world.

In addition to its solutions dedicated to legal and professional identity security, IN Groupe develops and sales leadingedge security components for identities, and banknotes through its dedicated brands Surys (optical components) and SPS (electronic components).

This acquisition is part of the implementation of the Digital Odyssey 2025 Plan and the assertion of IN Groupe, through its Secure Components Business Unit, as a reference player for identity and banknote security. The complementary nature of both companies will strengthen IN Groupe’s products portfolio to meet the needs of Governments and Central banks in securing credentials and banknotes for both Euro and export markets.

As a national printing company, it is part of IN Groupe’s strategic plan to provide governments and administrations with security solutions for which IN Groupe masters the critical components, such as secure inks, and can thus develop the security of tomorrow for identity and banknotes.
Didier Trutt, Chairman and CEO of IN Groupe


GSI is a leading global manufacturer of high security printing inks and associated auxiliaries. With its worldwide operations based in Berlin, Germany, and a history of 175 years it is a trusted partner of many state print works and commercial security printing companies throughout the world.

The business has 80 employees and is expected to generate a double-digit million EUR figure of revenue in this calendar year and throughout the business plan period.


GSI’s know-how will provide IN Groupe with a solid platform to create new solutions for the currency and identity market. It will complete our already large product portfolio to better serve our private and public customers in the security space.
Frédéric Trojani,
Executive Vice President of IN Groupe Secure Components Business Unit


The sale of our shares in GSI will enable us to continue investing in the future growth of our new Chemicals Division and other strategic projects. .I am glad that the transaction at the same time provides GSI with many synergies for the future expansion of its business

Heiner Klokkers, Chairman of the Management Board of hubergroup


From our perspective, IN Groupe is an ideal, reputed and well-established player in the field of high security printing, who is supportive of GSI management’s plan for organic growth and expansion of its customer base and investment in our product portfolio.

Ulrich Walter, Directeur général de GSI

About IN Groupe

As global specialist in identity and secure digital services, IN Groupe is the trusted partner in the management and protection of sensitive data. By mastering the entire valuechain of the identity, IN Groupe has deployed its expertise beyond sovereign identity by extending its solutions and services to professional identities and identity of things. A stakeholder in major issues aimed at improving and securing the right to be yourself in the digital age, the Group regularly intervenes with institutions and organizations involved in the identity ecosystem in Europe. IN Groupe’s solutions, at the cutting edge of technology, integrate electronic, optical, holographic and biometric technologies, at the service of States, businesses and citizens.

The Group operates 4 reference brands, each a leader in their respective markets, IN Groupe for physical and digital identity solutions for Governments and administrations, Nexus for secure identity solutions for professionals and objects, SPS for electronic components and package solutions for banking and identity, and Surys for optical and holographic components for the banknote and identity market. As a national state printing company, IN Group is a committed player in the most protective and secure digital identity schemes.

IN Groupe in figures (2022 turnover):
€516m - 1,900 employees - 9 sites in Europe – 8 sales offices around the world. + 130 countries using IN Groupe’ solutions - 30 partner governments


About Gleitsmann Security Inks (GSI)

Since 1847, Gleitsmann Security Inks (GSI) has been an innovative and trusted provider of highly secure, durable and effective inks to government entities around the world. GSI continually strives to improve its products, meeting the latest requirements of its customers, i.e. central banks, state printing companies and commercial security printers.
GSI's products are now used by more than 40 international clients and the company was recently accredited by the Banknote Ethics Initiative (BnEI).

The company is based in Berlin (Germany) and has almost 80 people. It is expected to generate double-digit turnover in millions of euros during this calendar year and throughout the period covered by the business plan.

Gleitsmann Security Inks

Download the press release


Romain Galesne-Fontaine,
VP Communication and Public Affairs
+33 1 40 58 87 15