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| 13 May 2008 |
Bluehill ID AG to acquire Multicard AG
Bluehill ID AG (Symbol BUQ / www.bluehill-id.com) announced today that it entered into agreement to acquire 100% of Swiss based Multicard AG (www.multicard.com)
Multicard AG is headquartered in Wallisellen near Zurich and is a well established identification technology company focusing on the printing, programming and issuance of identification cards across multiple segments but with strong focus on the consumer sector. Founded in 1986 by its chairman Werner Vogt, Multicard has grown to be a highly respected leader in the ID card issuance & fulfilment market.
CEO Marco Avanzini said "we are really happy that we will be part of the Bluehill ID Group soon, we know the Bluehill team very well and we believe that being part of this organization will position us for continued growth"
Ayman S. Ashour, CEO of Bluehill ID, commented "Multicard has an excellent track record of growth and profitability and will be a very important part of our platform. We are expecting to complete the acquisition in the coming few weeks and I am really pleased to welcome Multicard to the Bluehill ID family"
About Bluehill ID AG
Bluehill ID AG is an international company with headquarters in Switzerland and listed on the Frankfurt Stock Exchange (ISIN CH0031958629; Symbol BUQ.F/BUQ.DE; www.bluehill-id.com) Bluehill ID is dedicated to the responsible use and development of RFID and other automatic identification technologies in the security, national identification, tracking and other growing applications. The business model of the company is based on combining disciplined acquisitive growth with strong organic growth from portfolio companies.
Contact
Fabien B Nestmann
Tel: +41 44 78 38 043
Email: fbn@bluehill-id.com
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