PRESS RELEASE  

Aconite announces acquisition of Smart Commerce Inc

Aconite strengthens commitment to EMV migration in Canada and Americas with acquisition of local smartcard solutions provider

Aconite , a leading global provider of EMV smartcard technology solutions, is today announcing its acquisition of Smart Commerce Inc (SCI).

Headquartered in New York, SCI is a smart card solutions provider focused on the Canadian and American markets.

With more than 60 million EMV chip cards in use around the world, Canadian banks and card-issuers are seeking experienced technology partners to meet EMV initiatives whilst maximising value from their EMV investments. The SCI acquisition positions Aconite perfectly to meet this need and further demonstrates its commitment to affordable and effective EMV solutions in the region.

Mike Woods, Aconite’s CEO says, “The Canadian market is strategic to Aconite’s overall business plan of building a global solutions business. The acquisition will strengthen Aconite’s capability of supporting our growing number of clients in the region and also accelerate plans to actively develop new business in North and South America.”

Mansour Karimzadeh, President of SCI says “Aconite has a global reputation for being the industry leader in Smartcard Technology and EMV migration. With their international network of offices and business partners, the acquisition allows us to combine our specialised expertise and solutions to accelerate our combined growth plans.”

Mansour Karimzadeh will head up the Aconite Americas business as Senior Vice President.  

About Smart Commerce Inc

Smart Commerce Inc (SCI) is a consultancy and software solutions provider with specialist expertise in multi application Smart Card systems, EMV and Enterprise Security, addressing the banking, healthcare and security market sectors.

SCI specialises in smart card system implementation for financial institutions, e-commerce systems design and analysis and project management.

About Aconite

Aconite Technology Limited is a consulting and software solutions provider, with specialist expertise in EMV (Europay, MasterCard and Visa) migration and smart card systems. With more than 100 years of collective experience in EMV consulting, smart cards and solutions, Aconite provides cutting-edge technology products and solutions to enable banking and retail customers to cost-effectively manage migration from magnetic stripe cards to EMV chip and PIN services.

Based in the UK, Aconite Technology has offices in five regions: Europe, Middle East, Asia, The Americas and Southern Africa. Further information about Aconite can be found on the Aconite website at www.aconite.net

For all further press enquiries, please contact:
Georgina Hart at Edelman on +44 (0) 20 7 344 1315 / georgina.hart@edelman.com

For all sales enquiries, please contact:
Mansour Karimzadeh (Telephone 516-338 8880, email: mansour.karimzadeh@aconite.net).