Retriever Payment Systems Merge with Iron Triangle Payment Systems

Monday 24 January 2005 03:14 CET | News

Retriever Payment Systems and Iron Triangle Payment Systems has merged. As a result of the merger, Retriever will become a subsidiary of ITPS.

Retrievers existing investors, including CEO Bill Higgins and other members of management, have converted their ownership of Retriever into securities of ITPS. All members of Retrievers existing senior management team will remain with the company, which will continue to operate as Retriever Payment Systems. Both Retriever and ITPS are portfolio companies of GTCR Golder Rauner, LLC, the leading private equity investor in the transaction processing industry. Retriever provides credit card processing and other point-of-sale payment related services to small- and medium-sized merchants, primarily through independent sales groups. The company offers integrated transaction processing support for all major credit cards, as well as ATM/debit cards, EBT (government financial support programs), check conversion, specialty cards, gift cards and loyalty cards. GTCR and Retriever management acquired and recapitalized Retriever in July of 2004 in a $250 million transaction.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce