CPI has acquired the assets of PCS’ prepaid debit card business which will continue to operate at its existing location in Roseville, Minnesota. Many of PCS’ former employees and management have also joined the CPI team. Additionally, CPI has acquired various other financial and intangible assets and equipment of the former PCS business.
Steve Montross, president of CPI Card Group, said: “PCS is the leader in data personalization and packaging, particularly tamper-evident security packaging for the secure prepaid debit card market, due to its design and innovation expertise, production experience, strong quality systems and excellent customer relationships. The combination of PCS’s capabilities with CPI’s strengths in manufacturing and data personalization provide our combined customer base complete end-to-end solutions for their card production, personalization, packaging and fulfillment needs.”
Dan Frederickson, PCS’ former president who has joined CPI as a key member of its senior leadership team, said: “Joining CPI Card Group is an extremely exciting and positive development for PCS, our employees and customers. CPI Card Group’s resources and global capabilities along with the excellent match with PCS’s team make us a great combination. This can only be good news for all our customers, and it provides significant opportunities to further reinforce our solid reputation for first class products, services and solutions.”
PCS offers design, manufacturing, data personalization, packaging and fulfillment of prepaid debit cards and retail gift cards.
