CPI Card Group, a Littleton, Colo. producer of financial and commercial cards, has purchased the operating assets of UK company ID Data Cards. The transaction enables CPI to strengthen its secure card production and fulfillment capabilities worldwide.
This purchase is expected to help CPI meet the increasing demand for prepaid, EMV, contact and contactless payment cards in the financial market, particularly in the UK and other European countries.
ID Data and CPI’s UK business provide complementary card solutions for their respective customers. CPI provides closed loop prepaid cards in Europe, having shipped more than 100 million gift cards in 2011. ID Data Cards manufactured 42 million secure and commercial cards in 2011 for the banking, retail, leisure and government sectors. Combined, the two are capable of producing more than 450 million cards a year.
“Through this acquisition, CPI will combine its expertise with that of ID Data’s to offer increased card production and services capabilities,” said CPI President and CEO Steve Montross. “We are also excited to now have secure card and personalization capabilities to address the needs of the participants in the UK and European financial markets.”