CPI Card Group acquires Arroweye Solutions for $45.55M

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.