"Our corporate philosophies towards providing quality products and excellent customer service are closely aligned and the organic growth and cross selling opportunities between our companies are powerful" says Tarique Al-Ansari, President and CEO of Zomaron. "This transaction also provides HDX and Zomaron with technology and revenue that could facilitate further growth through acquisition."
"This is a timely and strategic decision for the Zomaron team," says Joseph Jongsma, Vice President of Sales for Zomaron. "Combined with our existing payment solutions, being able to offer ATM's, owning our payment switch, and providing integrated solutions will be excellent advantages for our team of more than one hundred and fifty sales agents. The size and scope of the HDX service network and the features and benefits of the HDX product line will enhance our sales efforts and give us an opportunity to better serve our customer base. The larger combined company provides the extra team resources required to develop advanced technology and the ability to service customers in a wide geographic area."
The parties have agreed to negotiate a definitive agreement exclusively with each other and the transaction is expected to close on August 1 st, 2013. The transaction is subject to a number of conditions including the parties reaching a definitive agreement and receiving all necessary regulatory approvals.
About HDXPosera-HDX is in the business of managing merchant transactions with consumers and facilitating payment. The company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services. Posera-HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and "line buster" mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.