Matica acquires Panini to strengthen secure payment portfolio, US market position

Turin, Italy-based Panini has been acquired by compatriot Matica Fintec, which provides digital identity and card issuance technologies to financial and government institutions.

Matica is a publicly traded company that offers software for digital identity issuance, verification and online authentication, printers and software for ID card issuance, and the Xpressi line of payment card issuance and management software. It is in the context of smart cards that Matica has come up in previous Biometric Update coverage.

Panini specializes in payments processing technology and biometric identity verification, such as with its patented biometric platform BioCred. The company introduced a version of BioCred provided as a cloud service last year. Panini also has a North America subsidiary, established in 1995, and headquartered in Dayton, Ohio.

Acquiring and integrating Panini gives Matica those biometrics capabilities, along with an established and recognizable market presence and an extensive network of value-added reseller partners. Matica now has a comprehensive portfolio for secure payments, spanning from card issuance and customer onboarding to check imaging and branch automation, according to the company announcement.

It also gives the combined entity a larger footprint in the United States, and a stronger position from which to address that market.

“Panini is a first-class company with a strong legacy in bank technology and long-standing relationships with major financial institutions,” comments Sandro Camilleri, CEO of Matica Fintec. “This acquisition perfectly aligns with our strategy to scale in the fintech space, especially in the U.S. market. It strengthens our portfolio and extends our leadership across the Payment and Identity ecosystem.”

Matica acquired Panini from SETA Holding. The terms of the acquisition were not disclosed.

Panini CEO Richard Kane says the merging companies “share a commitment to customer success and secure innovation. Matica Fintec’s continuing investments in the U.S. market will provide an immediate impact to Panini’s current resources, support capabilities and customized solution offerings that our direct customers, value added resellers and integrators require in the fast-evolving world of fintech.”

Article Topics

acquisitions  |  biometrics  |  digital identity  |  financial services  |  Matica Fintec  |  Panini