IdentiSys acquires again: CardSmart
EDEN PRAIRIE, Minn.--A little more than a year after its last two acquisitions, IdentiSys, touting itself as North America's largest sales and service integrator of identification, tracking and security products, announced this week it has purchased CardSmart Systems, an ID reseller and integrator outside of Chicago.
Rick Stillwell, formerly the president and chief executive officer of CardSmart, is retiring, said IdentiSys president Debra Ferril. "He initiated contact with us ... Mr. Stillwell has had a longstanding business relationship with [IdentiSys founder and CEO Michael Shields], and knew that IdentiSys is always looking for good solid business opportunities to expand their base of operations in the same or related industries."
With CardSmart's addition, IdentiSys expands its local sales and service operation throughout the Midwest, offering end users an expanded portfolio of products and systems. Last year, the company bought Gebco of Hawaii, the leading supplier in the Hawaiian Islands of photo ID systems, binding, lamination and shredders; and 4Site Systems, a custom graphics operation based here.
Terms of the deal were not released, but Ferril said IdentiSys picked up 16 employees, and that the purchase would open up markets or expand their reach in Illinois, Indiana, Michigan and Wisconsin. She said CardSmart is particularly strong in health care, and "the Chicago market has a large concentration of major card issuers, which gives IdentiSys the opportunity to serve a significant percentage of the largest card issuers in the country."