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FreeStar Aqcuires Smokey Mountain Payment Processing Division

Tuesday 18 May 2004 18:12 CET | News

FreeStar has aquired UniComp, Inc.s Smokey Mountain payment processing division in Murphy, North Carolina. This division currently processes payment transactions (via credit cards and debit cards) through many of the largest processors and has the ability to be a direct processor with full settlement capabilities. The divisions best known processing clients include Sbarros Pizza, LaPetite Day Care Centers and CiCi Pizza. UniComp processes client transactions using its proprietary technology, Cyber-Terminal and Universal Payment software. FreeStar issued 10,000,000 restricted shares of common stock (valued at $1.0 million) in exchange for the assets of the division. FreeStar has agreed to file a registration statement covering those shares within the next three weeks. The transaction was arranged on behalf of FreeStar by its financial advisor, SBI USA, LLC.

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Categories: Payments & Commerce | Payments General
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