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Acquisition | 9 Months Ended
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Sep. 30, 2025
Acquisition |
Acquisition | ​ ​ 4. Acquisition ​ Arroweye Acquisition ​ On May 6, 2025, the Company acquired Arroweye, a leading provider of digitally-driven, on-demand payment card solutions for the U.S. market based in Las Vegas, Nevada, for a purchase price of $45.8 million. The acquisition was funded through a combination of cash on hand and the Company’s available capacity under the ABL Revolver (defined in Note 8, “Long-Term Debt”), with $1.5 million of the purchase price held in escrow. Additionally, the Company incurred $4.1 million of acquisition and integration costs during the nine months ended September 30, 2025, which are presented in “Selling, general and administrative” expenses in the Company’s condensed consolidated statement of operations and comprehensive income. The final purchase price allocation is subject to further analysis of tax balances, final valuation of identifiable intangible assets, and other items. The Arroweye financial results are included in the Company's Debit and Credit segment from the date of acquisition. ​ All assets and liabilities have been recorded at fair value, excluding deferred tax liabilities. The following table summarizes the preliminary allocations of purchase price: ​ ​
​ | ​ | ​
Cash and cash equivalents | $ | 1,603
Accounts receivable | ​ | 9,424
Inventories | ​ | 3,992
Prepaid expenses and other current assets | ​ | 2,517
Plant, equipment, leasehold improvements and operating lease right-of-use assets | ​ | 17,563
Intangible assets | ​ | 12,400
Goodwill | ​ | 3,498
Deferred income taxes | ​ | 3,699
Other assets | ​ | 298
Total assets | ​ | 54,994
Accounts payable | ​ | 2,837
Accrued expenses | ​ | 3,986
Accrued long-term operating leases | ​ | 2,371
Total purchase price | $ | 45,800
​ The goodwill recognized for Arroweye is primarily attributable to the assembled workforce and is recorded in the Debit and Credit segment. The amount attributed to goodwill is not tax deductible. ​ The preliminary estimated fair values of the identifiable intangible assets acquired at the date of acquisition are as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Weighted Average | ​ | ​
​ | ​ | Life (Years) | ​ | ​
Trademark | ​ | 2.5 | ​ | $ | 600
Acquired technology | ​ | 7.0 | ​ | ​ | 4,400
Customer relationships | ​ | 15.0 | ​ | ​ | 7,400
Total identifiable intangible assets acquired | ​ | ​ | ​ | $ | 12,400
​ The fair values of the trademark and customer relationships were determined using the relief from royalty and excess earnings methodologies of the income approach, respectively. The fair value of acquired technology was determined using the cost to replace methodology of the cost approach. The valuations of the intangible assets were derived using Level 3 inputs and require significant judgment and estimates, including the amount and timing of future cash flows and the determination of royalty and discount rates.

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