crudeoil24
3 years ago
CompoSecure Holdings, L.L.C. (“CompoSecure”), a leading provider of premium financial payment cards and emergent cryptocurrency storage and security solution provider, today announced Jon Wilk, President and CEO, was named a winner of the Ernst & Young’s Entrepreneur Of The Year® 2021 New Jersey Award. Now, in its 35th year, the Entrepreneur Of The Year program honors the next class in a long line of relentless creators and disrupters. Wilk was selected as one of the 12 winners that distinguished themselves as leaders in their respective categories.
“It is a tremendous honor and privilege to be recognized by Ernst & Young as a winner of New Jersey’s Entrepreneur Of The Year Award, and I am truly humbled to be among the trailblazers who are shaping the future,” said Jon Wilk, CEO of CompoSecure, which recently announced it had signed a merger agreement with Roman DBDR Tech Acquisition Corp. (NASDAQ: DBDR), a special purpose acquisition company. “I am constantly inspired by our team’s dedication and commitment to CompoSecure’s mission, even through a pandemic, and I look forward to the company’s future growth.”
As a 20-year veteran in the banking and payments industry, Jon Wilk successfully led growth and innovation in banking and payments at some of the world’s largest financial institutions, including Bank of America and JP Morgan. Wilk transitioned from his leadership role at JP Morgan to the private equity world to lead and grow portfolio business. As CEO at CompoSecure, he successfully made the transition from large companies with more than 100,000 people to an entrepreneurial company with less than 200 employees when he started and more than 650 today. He led a major shift in CompoSecure’s marketing and positioning of its products and created foundational infrastructure to support growth and innovation. Wilk led the CompoSecure team to triple net revenues from approximately $90M in 2015 to over $260M in 2020 and has been instrumental in making CompoSecure a category leader in premium payment cards and building a new 3-factor authentication solution for the crypto currency and broader digital asset market (Arculus) launching in September 2021.
crudeoil24
3 years ago
CompoSecure is set to go public with a pro forma enterprise value of $1.2 billion via the special purpose acquisition company, Roman DBDR Tech Acquisition Corp (NASDAQ: DBDR).
CompoSecure is a provider of financial payment cards, as well as cryptocurrency storage and security solutions. Jon Wilk, CEO of CompoSecure, appeared on Benzinga's YouTube show "SPACs Attack" for an exclusive interview Tuesday.
About CompoSecure: CompoSecure has been around for 20 years, Wilk told Benzinga.
The company partners with financial institutions and fintech companies across the globe, he said, adding that CompoSecure helps its partner businesses drive spending and acquire new customers.
CompoSecure's Metal Card Product: CompoSecure will deliver over 22 million metal cards to the market this year, which will drive over $280 million in revenue for the company, Wilk said.
The company has notable clients such as JPMorgan, American Express and Capital One, the CEO said.
There are 13 billion payment cards in circulation and 4 to 5 billion are issued every year, Wilk said. The company has only captured about 0.5% of its total addressable market, he said, adding that the company is in the early innings of its growth story.
CompoSecure's Crypto Storage Solution: The company has leveraged its 20-year history in payments and security to build a three-factor authentication product called Arculus, the CEO said.
When customers purchase crypto, they typically hold the cryptocurrency in a hot wallet, he said. CompoSecure offers a cold storage solution that gives the customer control of their private keys, Wilk said.
More than 70 million customers are using hot wallets to store crypto, he said, adding that the market is projected to grow to 230 million.
The ease-of-use of the Arculus product will allow the company to target the entire market of individuals using hot wallets to store crypto, Wilk said.
Wilk On Gaming, Gambling: The company plans to get into the gaming segment, Wilk said.
Gaming companies struggle with fraud within their in-game transactions and also want to add crypto capabilities to their platforms, he said.
CompoSecure offers the ability to lock down the payment ecosystems and add cryptocurrency to payment systems, according to the company's CEO.
In addition, the CompoSecure CEO told Benzinga the company is exploring the opportunity to introduce its three-factor authentication system to the online gambling industry.
SPAC Deal Notes: CompoSecure reached a natural point to consider moving to the public markets, Wilk said.
The ability to tell the company's forward-looking story through the SPAC transaction, as opposed to the traditional IPO route, was important, he said.
The two companies announced a definitive merger agreement on April 19. The deal is set to close in the third quarter. Upon closing, the combined company will be listed on the Nasdaq as CompoSecure, Inc. The ticker symbol for the combined company has yet to be disclosed.
Related Link: SPACs Attack Recap: SPAC Activity Slows Down With 3 Deals And No Offerings
DBDR Price Action: Roman DBDR Tech Acquisition Corp. was up 0.6% at $10.12 at last check.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
crudeoil24
3 years ago
Roman DBDR Tech Acquisition Corp. is a blank check company. The Company is formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus its search on companies in the technology, media and telecom (TMT) industries. The Company is not engaged in any business operations and has generated any revenue.
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makinezmoney
3 years ago
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