Arcontia develops smart card products for cashless ticketing and fare collection.

SWEDEN: The acquisition of Swedish smart card reader and software supplier Arcontia International by Japanese ticketing, lighting and electronic signage technology company Lecip Holdings Corp was announced on August 22.

'After a few years of close collaboration, Lecip and Arcontia have taken the next step in combining our portfolios that will drive new market opportunities and further expand our expertise in the area of automatic fare collection', said Arcontia CEO Magnus Stahlberg. Arcontia is to remain as a distinct business unit, with its headquarters in Göteborg.

Lecip Holdings CEO Makoto Sugimoto said the acquisition of Arcontia 'adds a number of innovative products and technologies to our portfolio that will allow us to reach new markets and grow revenues and earnings. By combining our resources and expertise with Arcontia, we see a tremendous opportunity for global growth.'