CPS is a provider in bank card personalization and employs 125 people, whereas ABnote Czech sro is a card manufacturing and personalization center employing 85 people.
The aforesaid acquisition will boost its European network of bank card personalization centers as well as improve its ability to provide proximity payment card solutions and services, claims the company.
CPS’s bank card personalization and trusted service management center in Lyon will further strengthen Morpho’s position in the domestic market, while ABnote Czech sro will increase capabilities in Eastern Europe banking card market.
American Banknote chairman and chief executive Steven Singer said that the sales proceeds that the company receives will allow ABnote to reinvest heavily in its core markets, including North America, and in Australasia.
The transaction is expected to close before the end of 2012.
