MDC Corporation of Toronto announced that its card services unit Metaca Corp.,
100% ownership of NBS Canada, the Canadian card services unit of Mist Inc.,
and the third largest card services provider based in Canada. NBS Canada is a
supplier of plastic cards and personalization services to financial
institutions and retailers in Canada and the United States.
The transaction is expected to add $10 million in annual revenues to
Metaca and will position Metaca as the largest card services provider based in
Canada, offering an increasing range of card related services to major
magnetic stripe and smart card issuers.
“The purchase of NBS Canada is a strategically important move for Metaca.
It will substantially advance our stated plan to widen and deepen our scope of
customer relationships within the financial institution, loyalty and
commercial segments,” said Greg McKenzie, President and Chief Operating
Officer of Metaca. “The other strategic advantage is NBS Canada’s smart card
personalization platform and innovative in-house card design and pre-press
capabilities. I think these will greatly enhance our service offering and
“This acquisition is consistent with MDC’s ongoing strategic plan of
expanding card services, which was initiated by the 1996 purchase of Davis +
Henderson, Canada’s leading cheque manufacturer,” added Miles S. Nadal,
Chairman, President & Chief Executive Officer of MDC.
“Our focus on the continued development of our card services business
reflects our commitment and desire to develop products and services that meet
progressive customer needs and complement our paper payment systems business,”
“We’re delighted to be joining Metaca, it’s a good fit,” said Dan
Pelletier, President of NBS Card Services Canada. “Our combined organization
will deliver increased value to customers and increased delivery
efficiencies.” Pelletier will continue as General Manager of the combined
business reporting to McKenzie.
McKenzie noted that the acquisition will add Desjardins, Laurentian Bank,
Alberta Treasury Branch, Firstar, Shoppers Drug Mart, Petro-Canada, Sears and
BCE Emergis – additional critical mass to the ongoing relationships of its
already impressive line-up of existing customers, including Royal Bank, CIBC,
National Bank, Bell Canada, Telus, Loyalty Management Group (Air Miles) and
Barnes and Noble.
Metaca Corporation is Canada’s leading Cardprogram Management(TM) Company
with a blue chip customer portfolio, which includes financial services,
telecommunications, retail, loyalty, insurance and utility industries. Metaca
supports this customer portfolio from operations in Canada and in Australia
where it operates under the Placard name. Metaca is owned 85% by MDC and 15%
by Symcor Services Inc.
Symcor is a leading North American customer communication, information
delivery and item processing services provider, with customers in the retail
and corporate banking, mutual fund, investment banking, insurance, retail,
telecom and utility industries across the country. Symcor’s services include
Web development, cheque processing, credit card and payment processing, and a
full range of customer bill and statement advisory, design and presentment
capabilities. Symcor is a joint venture established by Bank of Montreal, Royal
Bank Financial Group and TD Bank Financial Group, combining the “best of the
best” practices from these complex organizations.
About MDC Corporation Inc. (“MDC”)
MDC is a publicly traded international business services organization
with operating units in Canada, the United States, United Kingdom and
Australia. MDC offers security sensitive transaction products and services in
four primary areas: Personalized Transaction Products such as personal and
business cheques; Electronic Transaction Products such as credit, debit,
telephone and smart cards; Secure Ticketing Products, such as airline, transit
and event tickets; Stamps, both postal and excise. In addition, MDC is
majority owner of Maxxcom Inc., which is the largest full service marketing
communications organization based in Canada. MDC shares are traded on the
Toronto Stock Exchange under the symbol MDZ.A and on NASDAQ National Market
Systems under the symbol MDCA.