Dubai, October 28, 2019 – Toppan Leefung (Singapore), a wholly-owned subsidiary of Toppan, (Nikkei 225 – TYO: 7911) the Japanese global leader in printing & security, announces the recent acquisition of FutureCard Industries LLC, a global end-to-end card solution provider based in the UAE. The transaction was achieved by Toppan Leefung’s investment platform Toppan Gravity (Hong Kong).
Dubai, October 28, 2019 – Toppan Leefung (Singapore), a wholly-owned subsidiary of Toppan, (Nikkei 225 – TYO: 7911) the Japanese global leader in printing & security, announces the recent acquisition of FutureCard Industries LLC, a global end-to-end card solution provider based in the UAE. The transaction was achieved by Toppan Leefung’s investment platform Toppan Gravity (Hong Kong).
Toppan gravity has acquired FutureCard with the vision to extend its smartcard solutions and services to new boundaries and to penetrate new markets by developing next generation payment, ID, and transport card platforms. “We are proud to have reached a deal for the total acquisition of FutureCard, a leading card solution provider in the EMEA region”, says Jean-Pierre Ting, CEO of Toppan Gravity, who added “we were very impressed by the commercial reach and agility of FutureCard, as well as the entrepreneurship, creativity, network, and client-oriented approach of the management team who has successfully turned around a struggling company into a profitable one in only 3 years and is now prepared to tackle new challenges”.
Toppan Gravity is a technology investment platform with the mission to drive synergies between portfolio companies and extend the group’s reach through strategic developments and acquisitions.
“To carry the Toppan brand is a major milestone in the history of FutureCard. We take an optimistic view of the future now that we are member of an industry leader looking to expand and develop its global business activities” says Hassan Mokdad, CEO of FutureCard. “We are confident that the demonstrated versatility of FutureCard will bring momentum to the synergy-creation and growth vision of Toppan Gravity.”
FutureCard is serving a demanding market in constant surge with innovative cards, smartcards, as well as card fulfillment services and solutions. Government agencies, financial institutions, telecom operators, corporates and other businesses throughout the world entrust FutureCard with the delicate mission of producing secure cards.
“We see lot of synergies between FutureCard’s positioning and Toppan’s’ strengths and strategies. There are geographical, product, and innovation complementarities that we will further develop in the years to come through intensive cooperation and further select acquisitions”, says Yeo Chee Tong, President & CEO of Toppan Leefung.
The acquisition makes FutureCard together with Toppan one of the forerunners in the payment, transport and ID markets while enhancing FutureCard’s business growth and performance.
About Toppan Gravity
Toppan Gravity Ltd. is a Hong Kong based company, part of Toppan Group – a Japanese listed Nikkei 225 global leader with more than 50,000 employees and an average annual turnover of $15 bn. The company is an investment platform specialized in biometrics, identity, and payment technologies and verticals; its mission is to structure strategic developments and M&A’s while driving synergies between portfolio companies.
Contact: info@toppangravity.com
About Futurecard
FutureCard Industries L.L.C. is a UAE based global provider of end-to-end card solutions with the focus on payment, ID, transport, telecom, loyalty and retail. Since 2003 FutureCard is designing, manufacturing and customizing high quality and cutting-edge smart card technologies and solutions. With a factory in Sharjah and offices in Dubai, Paris, Madrid, Johannesburg, and Amman, and a team of 230 multi-disciplinary employees from more than 20 nationalities, FutureCard caters for more than 500 customers in more than 90 countries in the Payment, ID, Telecom and retail industries.
Contact: info@toppangravity.com
