CPI Card Group (PMTS) announced it has acquired Arroweye Solutions for a purchase price of $45.55M. Arroweye’s revenues are expected to be in the mid-$50M range in 2025, on an annualized basis. Arroweye has approximately 200 employees, with its headquarters and 75,000 square foot production facility located in Las Vegas, Nevada. The all-cash transaction was completed upon signing on May 6, subject to customary closing adjustments. CPI funded the acquisition with a combination of cash and borrowings from its $75M ABL revolver. CPI will not assume any Arroweye debt or cash in the transaction.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PMTS: