Setec and TAG Systems International conclude merger in Sweden

Wednesday 12 November 2003 08:56 CET | News

Setec TAG AB, a new smart card company in Sweden, has been established as a result of a merger of two Swedish subsidiaries, Setec Card AB and Card TAGnology AB.

The Finnish smart card company Setec holds 56% of the company shares and TAG Systems International has 44% of the shares. The strength of the new company is based on Setecs smart card expertise combined with TAG Systems Internationals strong customer service know-how. The new Managing Director of Setec TAG AB is Mr Erik Andersin who was previously the Managing Director of Setec Card AB. Mr Jan Andersson, the previous Managing Director of Card TAGnology, will continue as the Sales Director in the new company. Setec TAG has 40 employees. Setec and TAG Systems International have been cooperating actively especially in the Nordic Countries for over a year now. Furthermore, the companies have already participated together in several international tenders with great success. In the Nordic region, Setec has a strong market position in Finland and Denmark and TAG Systems International in Norway. Setec TAG AB strengthens the market position of both owner companies in Sweden.

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Categories: Payments & Commerce | Cards
Countries: World
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