Dec. 9, 2009
ARLINGTON, VA., --/ Business Wire/ -- Solveras Payment Solutions, a leading provider of electronic payment services for businesses, announced today the successful completion of its most recent merchant portfolio purchase and integration. This portfolio acquisition fits nicely with Solveras' strategy of acquiring quality merchant processing portfolios and companies. Stated John Cramp, CEO of Solveras Payment Solutions, “We are pleased we were able to close this transaction within three weeks of the initial dialogue with the seller and we welcome our new merchants to Solveras.”
On a broader scale, Solveras Payment Solutions is seeking enterprise, product line and/or portfolio acquisitions that will help accelerate the company's growth. Special interest will be paid to acquisitions that will drive potential cross sell opportunities, introduce new sales/product lines and open new distribution markets or channels. As part of this strategy, Solveras Payment Solutions is actively pursuing all payment and credit card processing portfolios from ISOs and financial institutions nationwide. “This is an extremely exciting time for our company, as we are very well positioned to augment our robust organic growth with strategic, accretive acquisitions,” commented Mr. Cramp. “For those companies with access to capital, the current market valuations make it an attractive time to be acquisitive.”
“Solveras provides a fantastic opportunity for companies to join with a profitable, market leading growth partner in the electronic payments industry,” stated Pat Patterson, Vice President Corporate Development of Solveras Payment Solutions. “I would encourage anyone in the payments industry that is considering the sale of part or all of their company or portfolio, for strategic or financial reasons, to contact us.”
About Solveras Payment Solutions
Founded in 2000, with operations in Arlington, Virginia and Nashville, TN, Solveras, Inc. (www.solveras.com) provides comprehensive electronic payment solutions and customer service to small and medium businesses nationwide. Solveras markets its products exclusively through affinity relationships with professional and trade associations, Financial Institutions and software integrations. Solveras Smartpay, the company's integrated payment portal product supports credit, debit, ACH/eCheck, Remote Check Deposit and electronic invoicing functionality.
Source: Solveras Payment Solutions
Contact:
Pat Patterson / VP Corporate Development
615-550-9365, Pat.Patterson@solveras.com