Morpho completes acquisition of Carvajal’s card division and becomes a leader in the Latin American banking market
Paris, October 3, 2011
After completing all required approval procedures, Morpho (Safran group) today announced that it has finalized the acquisition of Valores Plasticar, the card manufacturing and personalization centers of the Colombian group Carvajal, initially announced on July 12, 2011. This transaction positions Morpho as a leader in the Latin American banking market.
Commenting on the closing, Philippe d'Andréa, Executive Vice President, Morpho, e-Documents Division, said: "We are delighted to have finalized this transaction, which is perfectly aligned with Morpho's development strategy within the security market in this part of the world."
The new business will be integrated into Morpho as of October 1, 2011. Marcelo Bellini Garcia has been appointed Managing Director of the new operation. Mr Garcia previously served as Sales and Marketing Director, Brazil and Vice President Sales Banking and IAM, Americas of Morpho's e-Documents Division.
Morpho, a high-technology company in the Safran group, is one of the world's leading suppliers of identification, detection and e-document solutions. Morpho is specialized in personal rights and flow management applications, in particular based on biometrics, a sector in which it is the world leader, as well as secure terminals and smart cards. Morpho's integrated systems and equipment are deployed worldwide and contribute to the safety and security of transportation, data, people and countries.
Through its e-Documents Division, Morpho is a pioneer and a global leader in the smart card industry. It develops and implements cutting-edge technology to turn the vision of unbounded mobile communications and integrated digital security into a reality. The Division's portfolio includes hardware, software, consulting and services, all focused on smart cards for the benefit of consumers and providers in the telecommunications, health, identification and banking areas.
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