Smart Bits: ICL Buys Card Firm In Conn. for $6 Million

Product Technologies Inc., which co-developed the SmartCity smart card system with ICL of the United Kingdom, said it has been acquired by ICL for about $6 million.

It said the deal makes ICL the premier provider of multiapplication smart card systems, based on the number of sites served.

The company also aims to be the largest smart card system supplier in revenue within three years.

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