EFT Source recently announced it plans to acquire long-time partner CPI Card Group, a provider of financial and EMV card production services.
“As longstanding partners, CPI and EFT Source share a common philosophy and focus on superior customer service delivery,” Steve Montross, the president and CEO of CPI, which provides plastic cards under brands including American Express, MasterCard and Visa, said. “Now, through this acquisition, we are combining CPI’s and EFT Source’s unmatched capabilities and increased capacity to deliver more customized programs, superior card production and greater personalization services. We’re very excited about this combination and the value that it will provide to our customers.”
EFT Source said the acquisition will extend CPI’s suite of products, services and technology to its current customers, thereby allowing the company to expand its product availability and services around the world.
“We’ve worked with CPI Card Group for more than 15 years, providing for great familiarity across our organizations as well as our management teams,” EFT Source President Bill Dinker said. “Our company was a natural fit and this allows us to expand our product offering and drive growth within the industry, particularly in relation to the U.S. market migration to EMV. This will provide substantial opportunity for our organization.”
EFT Source will continue to operate from its locations in Nashville, Tenn., and Colorado Springs, Colo.