DUBLIN, ATLANTA and SALT LAKE CITY, November 15, 2012 /PRNewswire/ --
Sysnet Global Solutions, a leading provider of payment card industry compliance services, specializing in PCI DSS compliance validation and merchant intelligence solutions, announced today that it has acquired Panoptic Security, Inc., the U.S. based provider of PCI DSS compliance validation services to small and mid-size merchants, ISOs, acquiring banks and credit card processors. PCI DSS (Payment Card Industry Data Security Standard) is a set of comprehensive requirements developed by the founding payment brands of the PCI Security Council, American Express, Discover Financial Services, JCB International, MasterCard Worldwide, and Visa Inc., for enhancing the security of payment account data, transactions and payment systems.
The acquisition of Panoptic, based in Salt Lake City, by Sysnet consolidates Sysnet's rapidly growing presence and reputation in the U.S. market.
"The combined strengths of Sysnet and Panoptic will help accelerate our plans in the United States and importantly, will provide our U.S. and international clients with a more diverse, and complementary range of client-focused products and services," said Gabriel Moynagh, CEO of Sysnet. "We also believe the acquisition will result in greater efficiencies and significantly increase our market share."
"With Sysnet and Panoptic joining forces, it allows the combined group the opportunity to offer a larger global footprint and a broader product and service offering. Our clients will continue to receive the same high quality products, services and innovation they have come to expect from both Sysnet and Panoptic," said Matt Hoffman, CEO of Panoptic. "In the past, both organizations have proven that they build products differently and, as a result, superior to the competition. Now as one, we will only further our ability to serve the industry beyond expectations."
"We are delighted to team up with the talented and ambitious team at Panoptic as we were attracted to their client-focused and solution-driven culture - great attributes of our own team here at Sysnet," added Gabriel.
About Sysnet Global Solutions
Established in 1989, Sysnet Global Solutions provides payment card industry compliance services, specializing in PCI DSS compliance validation and merchant intelligence solutions. Sysnet offers a range of services, including its proprietary web based compliance management and merchant intelligence solution SysnetAIRTM, to a wide variety of businesses including acquirers, ISOs, international banks, payment service providers and merchants.
SysnetAIRTM is a fully white-labeled merchant intelligence solution that centers around the compliance process, enabling acquiring organizations to build strong relationships with their merchants through sustained and meaningful interaction. SysnetAIRTM provides the acquirer with the means to know and understand their customers' requirements and needs, which improves merchant loyalty and reduces merchant attrition.
Sysnet has more than 20 years' experience in multiple IT environments and its expert engineering and consulting teams are certified to the highest standards. Headquartered in Dublin, Ireland, Sysnet has clients in more than 35 countries worldwide and has been operating and providing services to clients in the United States since 2009. Earlier this year, SysnetAIRTM received two of the three awards (Jury Vote and Best Product Pitch) at the Florin Awards in Europe. The Florin Awards were created to stimulate and reward innovation in the transaction service industry.
For more information, please visit http://www.sysnetglobalsolutions.com.
About Panoptic Security, Inc.
Panoptic Security, Inc., headquartered in Salt Lake City, is a U.S. based provider of PCI DSS compliance validation software and services for small and mid-size merchants, ISOs, acquiring banks and credit card processors.
ExpertPCI, Panoptic's flagship SaaS product, is specifically designed to simplify and shorten the process for small and mid-sized merchants to achieve PCI compliance. Through the use of pre-populated questionnaires created from algorithms based on a merchant's credit card environment, Panoptic has shown to cut the number of required responses by nearly half. Additionally, an intuitive user interface, integrated PCI scanning solution, and numerous channels a merchant can use to seek help provides users with all they need to validate their PCI compliance while seamlessly guiding them through the online software. ExpertPCI recently received the 2012 Global Excellence Award for the third year in a row from Info Security Products Guide, the industry's leading information security research and advisory guide.
For more information, please visit http://www.panopticsecurity.com.
SOURCE Sysnet Global Solutions