News

CPI sells nonsecure card ops, refines focus on EMV solutions

The divestiture refines a focus on technology payment solutions such as EMV and further concentrates activities in core markets, the company says.

January 13, 2015

CPI Card Group, a provider of financial and EMV chip card production and related services, has sold its nonsecure card operations in Las Vegas to PLI, the world's largest hotel keycard manufacturer, according to a press release.

"We are very pleased with the successful divestiture of the non-secure card operation," Steve Montross, president and CEO of Littleton, Colorado-based CPI, said in the release. "CPI's focus in North America is on technology payment solutions such as EMV for our core markets of financial and private label card issuers, secure prepaid program managers, payment processors and financial services providers. This divestiture of our Nevada operation is consistent with the company's focus and will further concentrate our activities on our core markets."

"PLI's focus on the commercial, nonsecure markets coupled with our customer and employee focused culture make this acquisition a win-win for all parties," said PLI CEO Peter Krauss. "This acquisition makes PLI the largest provider of nonsecure cards and related services by both volume and revenue and we couldn't be more pleased to be able to offer broader services and capabilities to our growing customer base."

CPI provides products and services under the VISA, MasterCard, American Express and Discover payment brands — including cards and other form factors ranging from financial and prepaid debit to EMV chip and mobile, as well as personalization and fulfillment services. The company maintains production sites in Denver, Fort Wayne, Minneapolis, and Nashville in the U.S.; in Colchester, Liverpool and Petersfield in the U.K.; and in Toronto, Canada.