Ultimus Ltd. of Israel, which had been trying for two years to sell a micropayments concept based on smart cards, has been acquired by a new Dutch company called Cardis BV.

Cardis said it is marketing Ultimus' technology as "an extension of today's debit and credit card products into the area of micropayments." It gained quick credibility in the smart card world through the appointment of Robin Townend as president and chief executive officer.

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