|Strategic acquisition positions NBS as a leader in the Global Smart Card Software Marketplace|
NBS Technologies Inc. ("NBS") (TSX:NBS) announced today it has completed the acquisition of UbiQ Inc. ("UbiQ"), a privately held software development firm dedicated to the smart card industry. UbiQ was founded in 1994 and is based in Minneapolis, Minnesota.
Acquired for US$3,060,000 in cash and 1,330,435 common shares of NBS, UbiQ and NBS's existing smart card software group will merge within NBS's Card Personalization line of business. The issuance of common shares represents a dilution of 2.7% on a fully diluted basis.
"The increasing demand for smart cards, and the continued growth in the financial Europay-MasterCard - Visa (EMV) and government secure ID markets, is driving the need for smart card personalization solutions," said David Nyland, President and CEO, NBS Technologies Inc. "The integration of the UbiQ software suite with our existing NBS smart card technology ensures we remain well positioned to take advantage of this increasing demand. In addition, this integration allows NBS to provide its customers and business partners with an enhanced end-to-end smart card personalization solution." Mr. Nyland added, "NBS has earned a strong global reputation for customer responsiveness and a proven track record for high-quality service and support on solution sets that require both quality hardware and software from a single supplier. We are confident that with our combined research and development (R&D), practical industry know-how and experience, we will provide superior smart card solutions for our customers. These solutions will streamline their card production and personalization processes enabling the rapid implementation of sophisticated chip programs flexibly, and cost effectively."
A Fully Automated, Scaleable Card-Issuance Platform
The UbiQ product suite combines personalization software and services to manage the complex requirements of multiple applications, card operating systems, personalization equipment, and security key management systems. In addition, these products help to integrate the personalization components from different vendors at the point of card issuance. "The combined UbiQ and NBS smart software platform will enable NBS to very efficiently provide world-class card personalization solutions to the global smart card marketplace," stated David Tushie, President and COO UbiQ Inc. "We are excited about this opportunity to developed leading edge products and services for the global card market," added John Stearns, its Chairman and CEO.
About NBS Technologies Inc.
NBS Technologies (TSX:NBS) is a leading provider of card personalization, secure identity solutions, and point of sale transaction services for financial institutions, governments, and corporations worldwide. The company has specialized and complementary product lines within its Payment Solutions, Commerce Gateway, and Card Personalization business units. NBS Technologies is a global company with locations in Canada, the U.S. and the UK, along with a worldwide dealer network. For more information, visit www.nbstech.com.
About UbiQ Inc.
UbiQ is a privately held software firm that has developed proprietary, patented technology for high-volume smart card personalization. Its products include card configuration, data preparation, key management and card issuing capabilities, for single and multiple application smart cards. UbiQ markets its products worldwide to smart card issuers including Visa, MasterCard and JCB member institutions. Other customers and partnerships include card service bureaus, smart card manufacturers, and card personalization and printing equipment manufacturers. For more information, visit www.ubiqinc.com.
This news release contains certain forward-looking statements that reflect the current views and/or expectations of NBS Technologies Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly. No stock exchange or regulatory authority has reviewed or accepts responsibility for the adequacy or accuracy of this release.