FOR IMMEDIATE RELEASE
Corum Leads the Sale of Creditron to Purepay
Continuing Creditron's focus on providing a host of payments solutions for SMEs
BELLEVUE, Wash., August 20, 2007 Corum Group Ltd., the global leader in merger and acquisition services to software and information technology companies worldwide, is pleased to announce the acquisition of its client, Creditron Inc., a Toronto-based provider of payment processing software and services, by Ohio-based Purepay, an acquirer and operator of payments companies within the financial industry.
Creditrons strong position in the mid-market remittance processing space in North America was a strong fit with Pure-Pays acquisition strategy for the payments industry, Dick Davis, regional director, Corum Group, said. The partnership with Pure-Pay will allow Creditron to build on its existing product success and bring new ones to the marketplace.
About Purepay
Purepay is a Columbus-based acquirer and operator of payments companies with a primary focus on automation and transaction processing within the financial services industry. Purepay acquires growing companies, extends their existing capabilities, and accelerates organic growth with the intent of operating the companies long term. The firm targets a broad set of payments and transaction processing capabilities within the financial services industry. Purepays target investments include Cash Management, Check 21, ARC, Remote Capture, Stored Value Cards, Payments BPOs, ACH Platforms, Mobile Banking and Micro Payments companies. For more information, visit www.pure-pay.com.
About Creditron
Founded in 1994, Creditron Inc. is a leading provider of payment processing software and services. Its solutions combine industry standard operating systems and advanced imaging, scanning and data recognition technology to help low and mid-volume remittance processors optimize operations performance and improve customer service. The companys 200 North American customers process more than 200 million transactions annually, representing over $50 billion. For more information, visit www.creditron.com.
About Corum Group
Corum Group Ltd. is the global leader in merger and acquisition services to software and information technology companies worldwide. With 11 offices globally, Corum has completed over $6 billion in transactions in 15 countries in its over 20-year history, and publishes the industrys most widely distributed M&A research. Corums principals are highly experienced former tech CEOs, who are supported by the industrys leading researchers, writers and valuators. The company has spent more than $20 million to build the worlds largest buyer database to help ensure unparalleled success in client engagements. For additional information, visit www.corumgroup.com.
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