Posera-HDX Ltd. To Acquire Payments Company Zomaron Inc.
TORONTO, April 10, 2013 /CNW/ - Posera-HDX Ltd. ("HDX") announced today that it has signed a letter of intent to acquire Zomaron Inc., operating as Zomaron Merchant Services ("Zomaron") of London, Ontario. The terms of the transaction were not disclosed.
Posera-HDX is listed on the TSX under the symbol "HDX".
Founded in 2008, Zomaron Merchant Services provides credit and debit card processing solutions to Canadian merchants nationwide. Based in London, Ontario, Zomaron has offices in Edmonton AB, Toronto ON, and Montreal QC. Through its nation-wide network of sales representatives and strategic partnerships, Zomaron has experienced rapid growth, doubling its sales annually. Zomaron's exponential growth led it to be ranked NO.15 on PROFIT magazine's 13 th annual PROFIT HOT 50 ranking released in its October 2012 issue. Zomaron's solutions and services can also be marketed and deployed in the United States. Zomaron has boarded up to one hundred and thirteen merchants per month and up to one hundred and forty four payment terminals per month.
Paul Howell, CEO of Posera-HDX commented "We are very excited to announce the merger of the Zomaron team with HDX. This transaction is in keeping with our strategy to provide integrated payment solutions to new and existing merchants that already utilize HDX products and services. The Zomaron business model, in conjunction with HDX's intellectual property and services, provides merchants with one-stop-shopping, one monthly payment, and one source for technical support of all of their retail technology solutions. The team at Zomaron have demonstrated exceptionally effective skills in marketing, deploying, and supporting payment solutions while growing their business at impressive year over year multiples. The steady growth of Zomaron's payment processing revenue, profitability, and recurring residual revenue is very attractive to HDX".Zomaron products include retail debit/credit payment terminals, pay-at-the-table and wireless payment devices, as well as ecommerce and smartphone payments services, allowing Zomaron to provide business owners with secure, reliable and cost-effective payment solutions. Zomaron currently deploys its solutions to automobile dealerships, medical and professional offices, as well as traditional restaurant and retail environments.
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