The NJMEP award honors CompoSecure’s signifcant growth and innovation
CompoSecure, L.L.C., a leading provider of premium financial payment cards and emergent provider of cryptocurrency storage and security solutions, announced it was named the winner of the 2021 New Jersey Innovator of the Year Award by the New Jersey Manufacturing Extension Program (NJMEP). NJMEP honors top New Jersey manufacturers who develop products and use new technologies that stimulate the region’s economy. CompoSecure was selected for its innovations in creative new devices, ideas, inventions, processes, product enhancements and solutions to problems.
“This award acknowledges the dedication of our entire workforce to the growth of CompoSecure and the impact its innovation has had on the market. I am honored to lead such a committed and innovative team, who ensure the highest standards for our customers, community and employees.”
“Innovation has always been part of the CompoSecure DNA, creating the metal payment card market from scratch 20 years ago,” said Jon Wilk, President and CEO of CompoSecure, which had announced that it signed a merger agreement with Roman DBDR Tech Acquisition Corp. (NASDAQ: DBDR), a special purpose acquisition company. “This award acknowledges the dedication of our entire workforce to the growth of CompoSecure and the impact its innovation has had on the market. I am honored to lead such a committed and innovative team, who ensure the highest standards for our customers, community and employees.”
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This year, CompoSecure built on its payment card technology and security expertise to advance cryptocurrency adoption with an innovative cryptocurrency security solution, Arculus, the next generation of cold storage for the world’s most popular cryptocurrencies. Arculus is the smart, simple and safe cold storage solution, allowing consumers to manage their cryptocurrency in one secure place. Arculus has groundbreaking transactional capabilities that enable users to store and manage their digital assets through a highly secure card form factor and intuitive mobile wallet, incorporating a unique three-factor authentication security system.
CompoSecure’s focus is to increase its clients’ brand equity in the marketplace by offering innovative products and solutions which differentiate the brands they represent, thus elevating the cardholder experience. CompoSecure has nearly tripled its revenue over the last five years — from approximately $90M in 2015 to over $260M in 2020, making the company a leading provider of premium payment cards, producing nearly 100 million cards to date.
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NJMEP supports the manufacturing community through programs and practices that include planning, energy, tech transfer, innovation engineering and networking events to celebrate and connect leaders in the industry. The 2021 New Jersey Innovator of the Year Award recognizes companies that uses innovation to improve business, better the NJ manufacturing community, and positively impact a STEM-related field. The nominees are judged based on the following criteria: operations and continuous improvements; management philosophy; workforce development; and supply chain development.
On April 19, 2021, CompoSecure announced that it had signed a merger agreement with Roman DBDR Tech Acquisition Corp. (NASDAQ: DBDR). Upon closing of the proposed merger, the combined company will operate as CompoSecure, Inc. and plans to trade on the Nasdaq stock market. The transaction reflects a pro forma enterprise value for the combined company of approximately $1.2 billion. The transaction is expected to close in the second half of 2021 and remains subject to approval by Roman DBDR stockholders and other customary closing conditions.
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