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Giesecke+Devrient
Giesecke+Devrient GmbH (G+D) is a German international security technology company operating in the fields of digital security, financial platforms, and currency technology. Founded in 1852, the company evolved from a manufacturer of banknotes, substrates, banknote processing machines, securities, ID documents (such as national ID cards and passports), and payment cards to a provider of security technologies in payment systems, identities, connectivity, and digital infrastructures. The company's headquarters are located in Munich.
G+D operates in 40 countries worldwide and achieved sales of €3.13 billion in 2024. As of 2024, the company produces banknotes for 145 central banks globally.
Founded in 1852 by Hermann Giesecke (1831–1900) and Alphonse Devrient (1821–1878), the firm initially specialized in high-quality printing, notably currency and securities printing. Two years after its founding, G+D printed its first banknote—a 10-thaler note for the Weimarische Bank. By the time of the Proclamation of the German Empire, more than two-thirds of Germany's private and state banks had become clients of G+D.
From the 1850s to the 1870s, the firm printed some important biblical editions of Constantin von Tischendorf. The partnership's reputation for quality work was confirmed at the 1867 international exhibition in Paris. In 1873, the company began printing banknotes for clients outside Europe, starting with an order from Banco de Piura in Peru, followed by commissions from different countries and empires such as Siam and the Ottoman Empire.
In an attempt to eliminate the national debts, the government of the Weimar Republic had massively expanded the money supply after the end of the war in 1918, which led to hyperinflation in the 1920s. Due to the rampant currency devaluation, the Reich's printing office was no longer able to meet the rapidly growing demand for banknotes. This prompted the Reichsbank to commission private printing companies – including G&D – to print banknotes. It also printed tickets to the 1936 Olympics in Germany and did business with Spain under Franco.
After World War II, Leipzig ended up becoming part of the communist East Germany, and the company's printing facility was nationalized by the government as VEB Wertpapierdruckerei and began printing banknotes of East German mark. In 1948, the company was re-established in Munich by Siegfried Otto, husband of Jutta Devrient, a descendant of Alphonse Devrient.
In 1958, Siegfried Otto internationalised the company by founding a subsidiary in Mexico. The same year, the company received a commission from Deutsche Bundesbank to print Deutsche Mark banknotes.
In 1970, Siegfried Otto founded the Gesellschaft für Automation und Organisation mbH (GAO), which served as the hub for G+D's research and development activities for more than 30 years. The GAO primarily focused on modernising and automating banknote processing and payment transactions.
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Giesecke+Devrient
Giesecke+Devrient GmbH (G+D) is a German international security technology company operating in the fields of digital security, financial platforms, and currency technology. Founded in 1852, the company evolved from a manufacturer of banknotes, substrates, banknote processing machines, securities, ID documents (such as national ID cards and passports), and payment cards to a provider of security technologies in payment systems, identities, connectivity, and digital infrastructures. The company's headquarters are located in Munich.
G+D operates in 40 countries worldwide and achieved sales of €3.13 billion in 2024. As of 2024, the company produces banknotes for 145 central banks globally.
Founded in 1852 by Hermann Giesecke (1831–1900) and Alphonse Devrient (1821–1878), the firm initially specialized in high-quality printing, notably currency and securities printing. Two years after its founding, G+D printed its first banknote—a 10-thaler note for the Weimarische Bank. By the time of the Proclamation of the German Empire, more than two-thirds of Germany's private and state banks had become clients of G+D.
From the 1850s to the 1870s, the firm printed some important biblical editions of Constantin von Tischendorf. The partnership's reputation for quality work was confirmed at the 1867 international exhibition in Paris. In 1873, the company began printing banknotes for clients outside Europe, starting with an order from Banco de Piura in Peru, followed by commissions from different countries and empires such as Siam and the Ottoman Empire.
In an attempt to eliminate the national debts, the government of the Weimar Republic had massively expanded the money supply after the end of the war in 1918, which led to hyperinflation in the 1920s. Due to the rampant currency devaluation, the Reich's printing office was no longer able to meet the rapidly growing demand for banknotes. This prompted the Reichsbank to commission private printing companies – including G&D – to print banknotes. It also printed tickets to the 1936 Olympics in Germany and did business with Spain under Franco.
After World War II, Leipzig ended up becoming part of the communist East Germany, and the company's printing facility was nationalized by the government as VEB Wertpapierdruckerei and began printing banknotes of East German mark. In 1948, the company was re-established in Munich by Siegfried Otto, husband of Jutta Devrient, a descendant of Alphonse Devrient.
In 1958, Siegfried Otto internationalised the company by founding a subsidiary in Mexico. The same year, the company received a commission from Deutsche Bundesbank to print Deutsche Mark banknotes.
In 1970, Siegfried Otto founded the Gesellschaft für Automation und Organisation mbH (GAO), which served as the hub for G+D's research and development activities for more than 30 years. The GAO primarily focused on modernising and automating banknote processing and payment transactions.
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