CPITM, a payments technology leader providing a comprehensive range of physical and digital payment solutions, today announced it has acquired the TRISM on-premise instant issuance solution assets from HID Global Corporation (“HID”). The acquisition expands CPI's market leading position with financial institutions in the high-growth Software-as-a-Service (“SaaS”)-based instant issuance market and creates a new opportunity for expansion into larger financial institutions that require an on-premise solution. The transaction adds recurring revenue with an established base of multi-year customer relationships across the U.S. to CPI's existing marketable base of customers.
CPI acquires TRISM on-premise instant issuance assets from HID Global.
The acquisition expands CPI's proprietary technology platform across cloud and on-premise environments.
Adds recurring revenue with established multi-year customer relationships across the U.S.
Estimated to double CPI's total addressable market in instant issuance.
Acquired business expected to accelerate IPT segment revenue growth to ~20% in 2026.
All-cash transaction funded with cash on hand, no debt assumed.
The acquisition provides several key strategic benefits to CPI. It expands the proprietary technology platform by broadening the ability to deliver instant issuance software solutions across cloud and on-premise environments, while adding integrations that further extend CPI's ecosystem and support customers with a unified and flexible solution. It grows the marketable base by broadening new and existing customer relationships with financial institutions, increasing instant issuance scale and creating cross-selling opportunities for CPI's broader business. Additionally, it provides an evolving solution to a higher-growth, sizeable addressable market, estimated to double CPI's total addressable market in instant issuance with an on-premise solution that enables access to mid-to-large financial institutions.
John Lowe, President and Chief Executive Officer of CPI, commented: "This acquisition accelerates our strategy as a payments technology company growing our proprietary technology platform and our marketable base, providing a proven, integrated, on-premise solution for financial institutions. By bringing this established issuance business into our portfolio, we deepen our relationships with financial institutions of all sizes, enhance our ability to support their evolving instant issuance needs, and grow the business."
Bjorn Lidefelt, Executive Vice President and Head of HID, added: "HID has built a highly respected instant issuance platform, and we're excited to see it continue to grow under CPI. We believe CPI is the right home for the TRISM business, and we're excited for its next chapter under their leadership."
The acquired business is expected to accelerate CPI's 2026 annual revenue growth in the Integrated Paytech ("IPT") segment to approximately 20% and is expected to have a gross margin profile consistent with CPI's IPT segment. Following the completion of one-time integration costs, management expects this acquisition to be accretive to Earnings Per Share approximately 12 months after the close date. The all-cash transaction was completed on June 23, 2026, and includes transition service arrangements to support operational continuity. The transaction was funded entirely with cash on hand and is not expected to impact CPI's net leverage. CPI will not assume any debt or cash in the transaction.
About CPI Card Group Inc.
CPI Card Group is a payments technology company that is integral to the payments ecosystem. CPI's connections, people, and solutions enable payments for a broad and expanding customer base including thousands of U.S. financial institutions, processors, fintechs, prepaid program managers and more, and these customers count on us to deliver what's next. We continue to transform alongside the market, and for decades have invested in building deep connections and flexible solutions for our customers. Our proprietary platform and expertise uniquely position CPI to deliver today, tomorrow, and into the future as the market expands and payment methods evolve.
TechIntelPro empowers B2B technology decision-makers with the latest industry trends, deep insights, leadership perspectives and actionable intelligence to drive both organizational and professional milestones—and thrive on the tech pulse.