Welcome merges with Cyberpro
Welcome Real-time has strengthened its position in North America by merging with Cyberpro to provide smart card-based payment and loyalty programmes.
Welcome Real-time, French-based provider of smart payment and loyalty card software, and Cyberpro, Canadian-based developer and implementer of turnkey smart card marketing and loyalty systems, are to merge. The deal establishes Welcome as a North American leader in marketing solutions on smart cards. Terms of the deal were not disclosed.
According to Aneace Haddad, Welcome's president & CEO: "Our companies share such similar corporate cultures that our people have already begun working on customer projects together. The merger will quickly yield significant opportunities." Daniel Tardif, president & CEO of Cyberpro, and new CEO of Welcome's Americas region. adds: "Cyberpro's expertise with retailers, combined with Welcome's expertise with financial institutions, will allow us to leverage synergies between banks and merchants worldwide."
The combined 80-person company has a solid shareholding structure with leading smart card solutions provider Gemplus, European marketing firm High Co, Standard Chartered Bank, Dassault Multimedia, and TDF, a Singapore-based VC fund.
Last year, Welcome bought Singapore-based Axiomatique International (see article), which was chosen recently to supply the loyalty application for the terminals that will be used by new Malaysian Government Multi-Purpose Card, known as MyKad (see article).