Austin-based HID Global said Monday it has acquired Texas-based DemoTeller, which develops systems that let financial institutions instantly issue financial or payment cards.
Financial terms were not released.
Based in Euless and founded in 1984, DemoTeller develops and markets electronic systems and software for financial cards, magnetic encoding and the issuance of plastic cards to banking and commercial industries.
HID Global designs and produces security and identity-authentication technologies. It has 2,700 employees worldwide and has international offices in more than 100 countries.
HID Global opened that operations center in 2014 and at that time announced that the company's corporate headquarters were also moving from California to the Austin operations center.
The acquisition of DemoTeller will help HID Global address the needs of financial institutions and retailers for instant issuance of personalized or payment cards, such as "chip" cards, company executives said.
"We will now be able to improve the user experience with more convenience and seamless integration across hardware, software and services, providing a one-stop shop for a solution that already ties into core banking infrastructure," said Stefan Widing, CEO of HID Global.
Financial institutions are investing in new software and hardware to meet technical standards for chip cards. Combining DemoTeller and HID Global technology, financial institutions and retailers will have the ability to hand a customer a personalized card that is activated. That increases the likelihood that the customer will use it immediately, the company said.
HID Global has made a number of acquisitions in recent years. In December, it purchased European identity document company IAI Industrial Systems, which provides technology used by governments to personalize and embed security features in passports and identity cards.