ID Data in £2.28m CardBASE swoop

Sunday 13 June 2004 09:06 CET | News

UK-Based ID Data is buying CardBASE Technologies for £2.28 million, with a view to winning business in the national identity card market.

CardBASE Technologies in Dublin develops smart-card systems for customers in banking, retail and security. British Airways uses its systems, and one of Europes leading central banks uses its smart-card management products Mascot to issue secure smart-cards. ID Data strategy in buying CardBASE is to build a strong position using intellectual property products in the smart-card market. The acquisition, which is subject to the approval of ID Data shareholders, is being financed by the issue of 32,639,973 shares in ID Data priced at seven pence for the entire share capital of CardBASE.

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Categories: Payments & Commerce | Cards
Countries: World
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