Gemalto has acquired Rhode Island-based Shoreline and Atlanta-based Source One Direct, two payment card personalization bureaus in the United States. Both companies were previously part of Cardiff Holdings.
“The US market is rapidly moving to EMV, and this is another step in our ongoing investments to have the best mix of products and services to support our customers. This move reinforces our ability to deliver advanced personalization services to card issuers in the United States and complements our unique expertise in EMV acquired through the unrivalled number of such migrations we have deployed around the world. Adding these two companies to the Gemalto family will benefit US banks and credit unions of all sizes as they migrate their card portfolios to more secure smart card technology, which has proven to mitigate fraud in all regions of the world,” said Gemalto’s CEO Oliver Piou in a released statement.
Gemalto offers digital security solutions in 44 countries and reports annual revenues of approximately $3.2 billion. The newest acquisition from Cardiff represents and increased push into the U.S. market.
“Serving their collective customers for over 45 years, Shoreline and Source One Direct are leading personalization bureaus in the US. As part of Gemalto, the teams will combine their deep knowledge of the US market with Gemalto’s global footprint and technological leadership just at the right time as the region implements EMV chip & pin technology as the standard for card security,” noted Wright Ohrstrom, Chairman of the Board of Cardiff Holdings, while commenting on the deal.
How much Gemalto paid for the two card personalization bureaus is unknown at this time.
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