ABnote to Acquire CARDPro Group
Fort Lee, New Jersey – May 13, 2014 – ABnote, a leading global card manufacturer and provider of financial, secure credentialing, and retail products and solutions, has entered into a definitive agreement to acquire all of the assets of the CARDPro Group, which will be renamed ABnote CARDPro China. The transaction includes ABnote CARDPro China’s ISO9001 and ISO14001 accredited manufacturing facilities in Huizhou, China, as well as sales offices throughout China, Hong Kong, Australia and New Zealand. ABnote CARDPro China will be managed by its incumbent CEO, Adam Ducquet, who will also acquire a 20% stake in the restructured business.
According to ABnote’s Chairman and Chief Executive, Steven Singer, “The acquisition of ABnote CARDPro China is of great strategic significance to ABnote. It marks not only a significant entry into the enormous Chinese and Pan-Asian market, but enhances our global footprint and increases our manufacturing capacity as well.” Nicholas Ficinus, CEO of ABnote Australasian business unit added, “This transaction marks a great fit for both organizations. Significantly to ABnote, the China manufacturing facility will allow us to broaden our plastic card product line, offering a new range of low-cost solutions, as well as related consumer products ranging from wristbands to key fobs.”
Adam Ducquet, founder of ABnote CARDPro China and the new unit’s Chief Executive, noted, “This represents not only a great opportunity for ABnote, but for ABnote CARDPro China as well. With access to ABnote’s industry-leading secure payment capabilities, solutions for mobile payment and ID, mapping analytics, and enrollment and issuance services, we expect to materially increase our sales within China. Moreover, we will enjoy greatly enhanced access to global markets for our current product line, via ABnote’s existing operations.”
ABnote, with facilities in North America, Europe, Africa, and Australasia, is a premier and trusted provider of secure products and solutions. We provide solutions to global customers including financial, retail, government, and many other commercial markets. ABnote’s primary products include financial cards (Dual Interface, EMV, magnetic stripe), identification and credential cards (Drivers’ Licenses, National ID cards, Student ID), transit cards, hotel, facility and theme park access cards and membership programs, retail plastic cards (gift, loyalty, RFID), barcodes and labels and secure documents (vital records, certificates, passports, and more); along with complimentary secure services, including instant card issuance, NFC and HCE mobile payments, TSM services, personalization, secure warehousing, distribution and fulfillment.
About ABnote CARDPro China
Founded in 2003, ABnote CARDPro China currently produces over 125 million plastic cards annually for the local Chinese market and for export to over 80 countries worldwide, from its state-of-the-art ISO9001 and ISO14001 accredited plant in Guandong Province, PRC. A global price leader, ABnote CARDPro China’s product line includes products for the Retail, Banking, Telecommunications and Identity sectors, utilizing a range of magstripe, RFID and EMV smart cards. ABnote CARDPro China also offers a complete suite of related services, including card personalization, affixing, packaging, inserting, PIN generation and PIN mailers.