TransFirst® Acquires Solveras Payment Solutions™
HAUPPAUGE, N.Y., Aug. 24, 2011/PRNewswire/ -- TransFirst®, a leading provider of transaction processing services and payment enabling technologies, has purchased Solveras Payment Solutions™, a provider of electronic payment processing services headquartered in Arlington, Virginia.
As an independent sales organization, Solveras has operated under a sales partnership agreement with TransFirst since 2004, offering TransFirst's products and services to its own payment processing customers. This prior business arrangement means that many of Solveras' customers are already familiar with TransFirst's innovative payment processing programs and industry-leading support; this should help to facilitate a smooth transition as Solveras and TransFirst become one company. Under the purchase agreement, current Solveras staff will become TransFirst employees and will continue operations in Arlington and in the Solveras facility in Nashville, Tennessee.
"Acquiring Solveras Payment Solutions gives TransFirst the opportunity to leverage Solveras' considerable resources selling merchant products and services, including a diverse merchant portfolio and an outstanding group of professional staff," says John Shlonsky, TransFirst's President and Chief Executive Officer. "The purchase is one of several strategic initiatives that TransFirst will undertake in the coming months as part of its plan for future company growth."
"All of us at Solveras are quite pleased to be joining the TransFirst team," says Brian Bates, Chief Executive Officer of Solveras Payment Solutions. "The acquisition will put us in a position to continue long-standing partner relationships and provide even better products and services to our customers as we take full advantage of TransFirst's industry experience. We look forward to moving ahead and contributing to TransFirst's ongoing success."
Financial Technology Partners LP and FTP Securities LLC (together "FT Partners") served as exclusive strategic and financial advisor to Solveras and its Board of Directors in this transaction.
About TransFirst (www.transfirst.com)
A leading provider of secure transaction processing services and payment enabling technologies, TransFirst offers innovative products and services designed with financial institution, independent sales organization, healthcare, e-commerce, government and merchant customers' unique needs in mind. By collaborating with our customers and utilizing strong industry knowledge, we help them grow their businesses. Founded in 1995, TransFirst continues to attain significant market share and world-class expertise in growing and profitable industry segments. Built on a platform of personal service, customer commitment and flexible pricing, TransFirst is headquartered in Hauppauge, N.Y., and has operations facilities in Aurora, Colo., Broomfield, Colo., Omaha, Neb., Overland Park, Kan., and executive headquarters in Dallas, Texas. Company-wide, TransFirst currently processes approximately $30 billion in annual sales volume for thousands of merchants and financial institution partners. For additional information, please call 800.745.2659 or visit www.TransFirst.com.
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