“Following the successful merger with TAG SYSTEMS in recent years, AUTRIACARD’s decision to partner with NITECREST was straightforward, the latter being one of the leading UK card and service providers with worldwide sales, as well as the clear leader in European fintechs, across TAG_NITECREST. The fit was perfectly complementary, ”said P.Spyropoulos, CEO of the AUTRIACARD HOLDINGS group, in Vienna.
Jon Neeraas, CEO of TAG SYSTEMS said: “We have always been very impressed with NITECREST’s group service offering. Collectively, we have continued to dominate the FinTech and Retail space and are very pleased to have reached a group level agreement of AUTRIACARD HOLDINGS, with the shareholders and management of NITECREST. We are confident that this decision will improve our offering and add value for our customers, employees and shareholders. “
AUTRIACARD GmbH and NITECREST carried out a merger / acquisition plan, in which AUTRIACARD acquired 100% of the shares of NITECREST. The main shareholders and the management team of NITECREST hold stakes in the new group structure and maintain their leadership positions, ensuring continuity for the partners, customers and employees of NITECREST, under the aegis of AUTRIACARD.
AUSTRIAN CARD COMPANIES is an Austrian high-tech IT group in the field of integrated hardware security founded in 1897 and has an international presence with three divisions, AUTRIACARD / TAG, INFORM and NAUTILUS, in the fields of digital security in payments and identity, digital transformation in the document lifecycle and security in the IoT, respectively. AUTRIACARD HOLDINGS operates seven production sites and seven personalization centers in Europe, one in United States and a in South America, allowing it to best serve its customers, wherever they are. In 2020, at a pro forma level including NITECREST & TAG_NITECREST, AUTRIACARD HOLDINGS reached a consolidated turnover about 200 million euros and currently employs approximately 1,600 people.
Ronnie Hart, President of NITECREST & TAG_NITECRES and CEO of NITECREST, said: “We are delighted to partner with AUTRIACARD, as it will allow us to further develop and capitalize on the service to our valued customers globally, thanks to the industrial robustness and advanced technologies of AUTRIACARD” .
Leeroy Pye, CEO of TAG_NITECREST, ended with a stimulating statement: “At the group level, we are on the verge of a game-changer. The adoption of our Fintech and Challenger Bank clients brings the entire group into a new era, as we will be able for the first time to offer basic product-oriented banking services. We are working in partnership with key companies around the world, to reverse card issuance and take the helm to deliver the next generation of payment cards ”.
NITECREST was founded in 1996, produces and personalizes Gift & Loyalty and Telecom cards for the local and global market. In addition, NITECREST holds a 50% stake in TAG_NITECREST, founded in 2016, which deals with the sale and personalization of payment cards for financial institutions in Great Britain. In 2020, NITECREST & TAG_NITECRES reached a consolidated turnover of 30 million euros and currently employ approximately 160 people.
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