CPI Card Group completed the acquisition of Arroweye Solutions for $46m.

CPI Card Group, a payments technology company providing a comprehensive range of payment cards and related digital solutions, completed the acquisition of Arroweye Solutions, a provider of digitally-driven on-demand payment card solutions for the U.S. market, for $46m. The addition of Arroweye’s on-demand payment card solutions to CPI’s portfolio of payment card production, personalization, instant issuance, prepaid, and digital solutions will allow CPI to offer more choices to a larger combined base of thousands of customers. In addition, CPI anticipates leveraging its resources and market position to increase Arroweye’s share and expand penetration of its solutions to new customers. Arroweye’s revenues are expected to be in the mid-$50m range in 2025, on an annualized basis.