Dai Nippon Printing's voluntary takeover offer for AustriaCard Holdings is now unconditionally binding, the Vienna-based company said on 12 November 2026, after Austria's foreign-investment authority cleared the €10-a-share deal.
Why Dai Nippon Printing Co., Ltd. (DNP) is buying AUSTRIACARD HOLDINGS AG
AustriaCard chief executive Emmanouil Kontos said when the offer was announced that DNP's global scale, technology capabilities and long-term investment perspective could accelerate AustriaCard's strategy and expand its international reach. DNP gains payment-card, e-signature and digital-identity businesses.
Deal terms and financing
DNP offered €10.00 a share in cash, valuing AustriaCard's 36,353,868 shares at about €364m, a premium of about 20-24% to the last close before the May announcement. Biometric Update put the enterprise value at about €446m, or 8.6 times 2025 adjusted EBITDA. Largest shareholder Nikolaos Lykos, with about 74.6%, gave an irrevocable undertaking to accept, and 96.55% of shares were tendered by 21 August.
Regulatory approvals and timing
The Austrian FDI authority cleared the deal on 10 November 2026, fulfilling the final condition precedent; other national FDI authorities had already approved it. Settlement for shares tendered in the initial period is due by 24 November, the additional acceptance period ends on 26 November, and DNP intends to pursue a squeeze-out under Austrian law, followed by delisting.
Market context
AustriaCard, listed in Vienna and on Euronext Athens, employs about 2,360 people and reported net sales of €360.2m in 2025. Tokyo-based DNP, founded in 1876, has been expanding in secure identification and payments.
