Oesterreichische Nationalbank (OeNB), the Central Bank of Austria, and Inform Lykos have signed an agreement today for the sale to Inform Lykos of a majority shareholding in Austria Card, a wholly-owned subsidiary of OeNB. Inform Lykos will acquire 85% of the share capital of Austria Card while OeNB will retain a 15% ownership. The parties have agreed to keep the financial details of the agreement confidential.
The participation of OeNB in the share capital reinforces the commitment of the two shareholders that Austria Card will remain in Austria continuing as a strategic supplier of the Austrian Financial Institutions. Additionally, the two shareholders will ensure that the company achieves its strategic objectives of further strengthening its leading position in Central Europe and becoming the largest payment card service provider for the emerging CEE region.
The combination of Inform Lykos and Austria Card creates the only international company that offers to its customers a unique product mix of end-to-end services in smart cards, print and information management and business process outsourcing.
The sharing of common values between Inform Lykos & Austria Card and in particular the passion for production and service excellence with special focus on flexibility will maximize customer satisfaction and value creation. The joint efforts in technological research and development will ensure that customers are always provided with state-of-the-art products and services.
It is the strategic objective of the new company to follow its customers’ expansion plans in the CEE countries of 150 Mio consumers and EMEA region, by offering local personalization and end-to-end services. In parallel , the company will play a pivotal role in implementing e-government secure applications.
After having concluded the agreement today, the company will start immediately the implementation of the post-acquisition integration plan for the joint operations, supply chain networks and customer care organizations in order to ensure a smooth transition and immediate value-added for customers, partners and investors subject to having received the approval of the competent and antitrust authorities.
With the acquisition of Austria Card, Inform Lykos extends its geographical reach and solidifies the Company’s position in the rapidly growing CEE region. Under the new structure, Austria Card will have a headquarter function for the entire relevant CEE payment card business of Lykos Group.
About Austria Card (www.austriacard.at)
Based in Vienna, Austria Card is a market leading company with active presence in Austria, Azerbaijan, Croatia, Finland, Germany, Hungary, Norway, Poland, Sweden, Turkey and Ukraine, in the field of secure smart card production and development for the Payment, Telecommunication, Governmental Identification and Industry/Loyalty market segments. With sales of more than 48 million euros in 2006, Austria Card is one of the top suppliers of smart cards internationally. The company produces more than 75 million cards per year with approximately 350 employees.
About Inform Lykos (www.lykos.gr)
Inform Lykos, founded in 1897, is a market leading company both in Greek and Romanian markets in the field of Business Forms and Security Document printing, Pre-Paid Card production and Business Process Outsourcing by offering Billing & Statement Printing, Electronic Bill Presentment and Print Management services to the Payment, Telecommunications, Government, Industry / loyalty market segments. Lykos employs approximately 900 employees and reached sales revenues of more than 69 million euros in 2006.
About OeNB (www.oenb.at)
The Oesterreichische Nationalbank (OeNB) is the central bank of the Republic of Austria and, as such, an integral part of both the European System of Central Banks (ESCB) and the Eurosystem. In the public interest, the OeNB contributes to monetary and economic policy decision making in Austria and in the euro area. “Security, stability and trust” encapsulates the guiding principles the OeNB has been committed to in serving Austria and Europe alike.