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CompoSecure Announces General Availability and Shipping of Its Arculus KeyTM Card for $99, Enabling Consumers to Manage Cryptocurrency in One Secure Place
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Rhea-AI Summary
CompoSecure has launched the Arculus Key card, a cryptocurrency cold storage solution, now available for $99. This device, along with the Arculus Wallet app, enhances security with 3-factor authentication and provides air-gapped protection against hacking. The Arculus Wallet supports various cryptocurrencies and allows users to buy, send, and swap easily. CompoSecure's merger with Roman DBDR Tech Acquisition Corp. is anticipated to close in H2 2021, establishing a pro forma enterprise value of approximately $1.2 billion.
Positive
Launch of the Arculus Key card enhances security for cryptocurrency users.
The Arculus Wallet app simplifies crypto transactions by supporting multiple currencies.
Merger with Roman DBDR Tech Acquisition Corp. provides a pro forma enterprise value of approximately $1.2 billion.
Negative
No significant financial metrics disclosed regarding projected revenue or profitability following the merger.
The simple cold storage wallet secures the world’s most popular cryptocurrencies with 3-factor authentication, protecting consumers from hacking and theft
SOMERSET, N.J.--(BUSINESS WIRE)--
CompoSecure, L.L.C.(“CompoSecure”), a leading provider of premium financial payment cards and emergent provider of cryptocurrency storage and security solutions, today announced it has begun shipping its Arculus KeyTM card, the next generation of cryptocurrency cold storage, which is combined with the Arculus WalletTM mobile app that is now available for a free download on iOS and Android app stores. The Arculus solution uses 3-factor authentication and provides air-gapped protection (i.e., not connected to the internet at all) against hacking and theft, and is the size and shape of a metal credit card. The Arculus Key card is available for purchase for $99 through www.GetArculus.com.
“Simple and secure storage solutions are urgently needed for the more than 221 million crypto users around the world who are targets for fraud and theft,” said Jon Wilk, CEO of CompoSecure. “More than $8 billion in crypto has been hacked or stolen in 2021 thus far, doubling the previous year, including examples of crypto exchanges being hacked, personal devices being comprised, or usernames and passwords being phished that were part of these growing losses. Arculus gives customers control of their private keys using an air-gapped cold storage solution that provides a safer, simpler and a smarter way to secure crypto assets.”
Arculus makes it easy for consumers to manage cryptocurrency in one reliable place with the newly launched Arculus Wallet mobile app. The intuitively designed app enables consumers to send crypto to others, use fiat currency to buy crypto, and swap crypto-to-crypto by merely using “tap to transact” authentication, which allows the user to securely authorize the transaction with the Arculus Key card. The app supports transactions in the most popular cryptocurrencies, including: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), USD Coin (USDC), TrueUSD (TUSD), Chainlink (LINK), Wrapped BTC (WBTC), DAI and Tether (USDT).
“The cryptocurrency cold storage solutions on the market today are clunky and overly complicated, so we designed and built an easy-to-use solution that is also one of the most secure on the market,” said Adam Lowe, Chief Innovation Officer of CompoSecure. “We need to securely keep hackers out, but easily let authenticated users into the device with behavior they already are familiar with, such as the tap to transact feature.”
The Arculus Key card works in tandem with the Arculus Wallet mobile app to protect each consumer’s private crypto keys with 3-factor authentication security that requires:
Something You Are -- The Arculus Wallet app leverages biometric security systems on mobile devices (e.g., fingerprint or facial recognition).
Something You Know – The Arculus Wallet app requires a 6-digit PIN.
Something You Have – The Arculus Key card contains an EAL 6+ embedded secure element that holds the user’s encrypted private keys.
Consumers can purchase Arculus cards at www.GetArculus.com throughout the U.S. (subject to transaction restrictions in New York and Hawaii). The price for the Arculus Key card is $99, which includes free shipping and handling. Sales tax is not included.
On April 19, 2021, CompoSecure announced that it had signed a merger agreement with Roman DBDR Tech Acquisition Corp. (NASDAQ: DBDR) (“Roman DBDR”), a special purpose acquisition company. 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.
About CompoSecure
Founded in 2000, CompoSecure is a pioneer and category leader in premium payment cards and an emergent provider of cryptocurrency and digital asset storage and security solutions. The company focuses on serving the affluent customers of payment card issuers worldwide using proprietary production methods that meet the highest standards of quality and security. The company offers secure, innovative, and durable proprietary products that implement leading-edge engineering capabilities and security. CompoSecure’s mission is to increase clients’ brand equity in the marketplace by offering products and solutions which differentiate the brands they represent, thus elevating cardholder experience. For more information, please visit www.composecure.com. ArculusTM was created with the mission to promote cryptocurrency adoption by making it safe, simple and secure for the average person to buy, swap and store cryptocurrency. With a strong background in security hardware and financial payments, the ArculusTM solution was developed to allow people to use a familiar payment card form factor to manage their cryptocurrency. For more information, please visit www.GetArculus.com.
About Roman DBDR Tech Acquisition Corp.
Roman DBDR is a special purpose acquisition company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or entities. While the company may pursue an initial business combination target in any stage of its corporate evolution or in any industry or sector, it intends to focus its search on companies in the technology, media and telecom (“TMT”) industries. The company is led by its Co-Chief Executive Officers, Dr. Donald G. Basile and Dixon Doll, Jr. The Company’s experienced board of directors includes former NVCA Chairman and longtime venture capitalist Dixon Doll, Global Net Lease (NYSE: GNL) CEO James L. Nelson, former fund manager Paul Misir, investment banker and investor Arun Abraham, and entrepreneur Alan Clingman. For more information, please visit www.romandbdr.com Roman DBDR raised $236 million in its initial public offering (inclusive of underwriter’s exercise of over-allotment option) in November 2020 and is listed on Nasdaq under the symbol “DBDR”.
Forward-Looking Statements
Certain statements included in this Press Release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to statements regarding Roman DBDR’s or CompoSecure’s expectations, hopes, beliefs, intentions or strategies regarding the future, including, without limitation, statements regarding: (i) the ability of Roman DBDR and CompoSecure to complete the proposed merger described in the Press Release, (ii) the size, demand and growth potential of the markets for CompoSecure’s products and CompoSecure’s ability to serve those markets, (iii) the degree of market acceptance and adoption of CompoSecure’s products, (iv) CompoSecure’s ability to develop innovative products and compete with other companies engaged in the financial services and technology industry and (v) CompoSecure’s ability to attract and retain clients. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity. These statements are based on various assumptions, whether or not identified in this Press Release, and on the current expectations of CompoSecure’s and Roman DBDR’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, a prediction or a definitive statement of fact or probability. Neither Roman DBDR nor CompoSecure gives any assurance that either Roman DBDR or CompoSecure will achieve its expectations. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of CompoSecure and Roman DBDR. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond Roman DBDR’s and CompoSecure’s control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These factors include, among others: the inability to complete the proposed merger; the inability to recognize the anticipated benefits of the proposed merger, including due to the failure to receive required security holder approvals, or the failure of other closing conditions; and costs related to the proposed merger. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the preliminary proxy statement on Schedule 14A (the “Proxy Statement”) relating to the proposed merger filed by Roman DBDR with the U.S. Securities and Exchange Commission (the “SEC”) and the definitive proxy statement and other documents filed by Roman DBDR from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that none of Roman DBDR or CompoSecure presently know or that Roman DBDR or CompoSecure currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Roman DBDR’s and CompoSecure’s expectations, plans or forecasts of future events and views as of the date of this Press Release. Roman DBDR and CompoSecure anticipate that subsequent events and developments will cause Roman DBDR’s and CompoSecure’s assessments to change. However, while Roman DBDR and CompoSecure may elect to update these forward-looking statements at some point in the future, Roman DBDR and CompoSecure specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Roman DBDR’s and CompoSecure’s assessments as of any date subsequent to the date of this Press Release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Certain market data information in this Press Release is based on the estimates of CompoSecure and Roman DBDR management.
Additional Information about the Proposed Merger and Where to Find It
In connection with the proposed merger, Roman DBDR has filed a preliminary proxy statement with the SEC. A definitive proxy statement will be sent to stockholders of Roman DBDR seeking approval of the proposed merger. The documents relating to the proposed merger (when they are available) can be obtained free of charge from the SEC’s website at www.sec.gov. These documents (when they are available) can also be obtained free of charge by contacting CompoSecure at: Marc P. Griffin, ICR for CompoSecure, 646-277-1290, CompoSecure-IR@icrinc.com.
Participants in the Solicitation
This communication is not a solicitation of a proxy from any security holder of Roman DBDR. CompoSecure, Roman DBDR and our respective directors, executive officers, other members of management and employees may be deemed to be participants in the solicitation of proxies from Roman DBDR’s stockholders in connection with the proposed merger. Information regarding the names and interests in the proposed merger of Roman DBDR’s directors and officers is contained Roman DBDR’s filings with the SEC. Additional information regarding the interests of potential participants in the solicitation process has also been included in the preliminary, and will be included in the definitive, proxy statement relating to the proposed merger and other relevant documents filed with the SEC. These documents can be obtained free of charge from the sources indicated above.
