London, United Kingdom
Datacard Group, the world leader in secure ID and card personalization solutions, and Aconite, a leading provider of EMV and smart card software solutions and professional services jointly announced that Aconite will acquire Affina Enterprise Smart Card Management System from Datacard.
Under the terms of the agreement, Datacard transfers intellectual property rights, support and development staff for Affina Enterprise to Aconite in return for an equity stake in Aconite and future royalties. Affina Issuance will remain a Datacard solution and part of Datacard Group's intellectual property; however Aconite will become an authorized distributor of the issuance side of the Affina solutions. Additionally, Datacard Group will become a global non-exclusive reseller for Aconite solutions including EMV Transaction Enabler, EMV Script Processor, Contactless PrePaid solutions as well as the Affina Enterprise Smart Card Management System.
Best known for its portfolio of card personalization and fulfillment equipment, Datacard Group's Affina Enterprise Smart Card Management System allows issuers to manage their entire portfolio of smart chip enabled cards, down to the individual cardholder level. Affina Enterprise manages multi-application smart cards by acting as the database and system of record to track changes and overall status of issued cards. In a single application card environment, Affina Enterprise is very well suited to allow issuers to manage and track changes made to the transactional characteristics of a card.
"The deal represents a significant development in Aconite's strategy to expand its product portfolio and international reach. It not only strengthens our expertise and offerings in the smart card payment arena but extends our portfolio to provide smart card management solutions such as data preparation, personalization and card lifecycle management to customers in finance, government, transport and other sectors" said Mike Woods, Aconite's CEO.
Datacard's CEO, Todd Wilkinson said "The combination of Affina Enterprise and Aconite's specialized EMV capabilities will result in the world's first end-to-end EMV management system. A partnership like this will help bank and government issuers streamline card lifecycle deployments and allow both Datacard and Aconite to focus on their respective segments of this exciting marketplace."
Based in the UK, Aconite operates across the globe, with a local presence in many markets. Aconite delivers smart card payment solutions and consulting expertise to card issuers and processors around the world, providing a rapid and cost-effective route to chip and PIN (EMV) deployment and the delivery of innovative card, token and mobile based payment solutions to new and existing markets. (www.aconite.net)
Source: Business Wire (Business Wire India)