PubliCARD, Inc. announced it has appointed Hatim A. Tyabji, 54, former Chairman, Chief Executive Officer and President of VeriFone, Inc., to its Board of Directors. His appointment increases PubliCARD’s Board to seven members.
Under Mr. Tyabji’s leadership at VeriFone, a global provider of transaction automation and Internet commerce solutions, revenues grew to $600 million in 1997 from $31.2 million in 1986. In early 1997, Mr. Tyabji negotiated the merger of VeriFone with Hewlett-Packard in a stock transaction valued at approximately $1.4 billion. Mr. Tyabji is currently Chairman and Chief Executive Officer of Saraide.com, which he founded in September 1998. Saraide.com offers innovative, customizable mobile data services that merge the strengths of the Internet and wireless communications.
Mr. Tyabji noted, “I am delighted to become a member of PubliCARD’s Board of Directors. This is a very exciting time for me to be involved with the Company as the market for smart card applications is exploding globally, presenting vast opportunities to enter a variety of sectors. PubliCARD is clearly dedicated to this pioneering technology and, by acquiring the best and the brightest in the smart card industry, is poised to offer a worldwide total smart card solution.”
Mr. Tyabji holds a BS in Electrical Engineering from the College of Engineering in Poona, India and an MS in Electrical Engineering from the State University of New York at Buffalo. In addition, Mr. Tyabji holds an MBA in International Business from Syracuse University and is a graduate of the Stanford Executive Program. He currently serves on the Board of Directors of Deluxe Corporation (NYSE: DLX), Best Buy (NYSE: BBY), Bank of America Merchant Services, Novatel Wireless and Ariba Technologies.
“We are thrilled to have Mr. Tyabji join our Board of Directors,” stated James J. Weis, President and Chief Executive Officer of PubliCARD. “His distinguished track record in the vast and ever-changing world of technology places him in an excellent position to help guide PubliCARD as we move to take advantage of strategic opportunities to expand our penetration of the smart card industry. We are pleased to benefit from Mr. Tyabji’s 12 years of experience at VeriFone and his global business focus, which have provided him with an intimate knowledge of the smart card industry.”
PubliCARD Inc., headquartered in Fairfield, Connecticut, owns businesses engaged in the development of smart card systems and technology, manufacturing and engineering services. More information on PubliCARD can be found at [www.publicard.com].
Special Note Regarding Forward-Looking Statements: Certain statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. For more information on the potential factors, which could affect the company’s financial results, refer to the Company’s most recent SEC reports, including the Form 10-K for the year ended December 31, 1997.