CPI announced that it has acquired the TRISM on-premise instant issuance solution assets from HID Global.
CPI is a payments technology company that provides physical and digital payment solutions. The acquisition expands CPI’s proprietary technology platform and strengthens its position in instant issuance for financial institutions.
TRISM adds an on-premise instant issuance solution to CPI’s existing Software-as-a-Service-based instant issuance offerings. CPI said the acquisition creates a new opportunity to serve larger financial institutions that require on-premise capabilities.
The acquired business adds recurring revenue from an established base of multi-year customer relationships across the United States. CPI said the transaction also expands its marketable customer base and creates cross-selling opportunities across its broader business.
CPI said the acquisition increases its instant issuance solution reach to more than 3,000 financial institutions. The company expects the transaction to help accelerate 2026 annual revenue growth in its Integrated Paytech segment to approximately 20%.
The acquired business is expected to have a gross margin profile consistent with CPI’s Integrated Paytech segment. After one-time integration costs are completed, CPI expects the acquisition to be accretive to earnings per share approximately 12 months after the close date.
The transaction is also expected to expand CPI’s addressable opportunity in instant issuance. CPI said adding an on-premise solution is expected to double its total addressable market in instant issuance by enabling access to mid-to-large financial institutions.
The all-cash transaction was completed on June 23, 2026. CPI funded the acquisition entirely with cash on hand, and the transaction is not expected to impact the company’s net leverage. CPI will not assume any debt or cash in connection with the acquisition.
The transaction includes transition service arrangements to support operational continuity.
KEY QUOTES:
“This acquisition accelerates our strategy as a payments technology company growing our proprietary technology platform and our marketable base, providing a proven, integrated, on-premise solution for financial institutions. By bringing this established issuance business into our portfolio, we deepen our relationships with financial institutions of all sizes, enhance our ability to support their evolving instant issuance needs, and grow the business.”
John Lowe, President and Chief Executive Officer of CPI
“HID has built a highly respected instant issuance platform, and we’re excited to see it continue to grow under CPI. We believe CPI is the right home for the TRISM business, and we’re excited for its next chapter under their leadership.”
Bjorn Lidefelt, Executive Vice President and Head of HID
