Novacard do Brasil, a subsidiary of CardFactory AG, serves mainly the mass transit market in Brazil, which is the third largest high frequency card market in the world. Novacard do Brasil is based in Ilheus and Campinas, Brazil.
"Novacard holds a strong position in the fast growing Brazilian mass-transit sector," says Juan Garcia, newly appointed CEO of ASSA ABLOY ITG. "With this acquisition, along with ITG's existing global manufacturing footprint and expertise in mass-transit RFID products, we anticipate to further expand our market position and improve our product offering to customers in the region."
"In the future, we envision expanding our product offering in the Latin American market to include animal identification, industrial and logistics, and electronic documents. Three of our group companies, Sokymat, ACG and
VisionCard, have significant experience and market share in this area," added Mr. Garcia. "This acquisition is a logical and exciting addition to the ASSA ABLOY ITG family of companies."