Thursday, 16 October 2008

ID Data to bring in administrators

ID Data Group plc (AIM: IDD), the smart card and card solutions group, has today announced that its core business unit ID Data Limited has filed at the High Court of Justice notification of its intention to appoint an administrator to protect itself from its creditors. See here for full statement.

Many people in the Local Authority market will not recognise ID Data, but they had just started getting their innovative smartcard technology into use by councils – and had recently delivered a multi-application smartcard RFID solution to allow citizens to use a single card as their library card, leisure centre card and bus pass. However, this was a very small part of their business, and it was a lack of funds in the current credit crunch that seems to have caused problems for this company.

I would hope and expect that ID Data will find a buyer – in particular for its CardBASE Technologies subsidiary (which, interestingly, is not mentioned in the statement), which has developed some highly innovative software for multiple application smart cards.

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