Pavlova you missing the point... all the points you have stated...

Pavlova you missing the point... all the points you have stated are great... BUT... it purchase by Thales does present a percived hickup in the on going relationship for Sen and Gemalto. Might not be a real hickup but is a perceived hickup...

I lowered my exsposure to Sen today as well. Regardless of your points you have no real facts of what Thales will actually do.

We can only speculate from our end.

If I do remeber correctly though I think it was discussed a little while back that SEN was starting down the road of lessoning it reliance on Gemalto... this will potentially be why...