CPI Card Group Acquires Arroweye Solutions for $45.6 Million

MT Newswires Live

05-07

CPI Card Group (PMTS) said Wednesday it has acquired Arroweye Solutions for $45.6 million in an all-cash deal.

The company said it finalized the acquisition on Tuesday, funding it with a mix of cash and borrowings from its $75 million asset-based lending revolver. CPI also said it would not assume any of Arroweye's debt or cash.

Shares of CPI were down more than 12% in recent Wednesday trading.

Price: 22.09, Change: -3.25, Percent Change: -12.83

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