FrontStream Payments buys Fast Transact with Arsenal Investment
03/19/2010
Nashville, TN (TechJournal South) -- Nashville-based FrontStream Payments Inc., a national provider of payment solutions, has acquired Fast Transact Inc., a provider of e-commerce payment solutions. The acquisition was funded through an investment from Arsenal Capital. Financial details were not disclosed.
“Fast Transact’s secure, integrated payment solutions and its experienced management team provide FrontStream with the expertise to partner with merchants and resellers in growing industry segments,” said Emmet Seibels, CEO and Co-founder of FrontStream Payments.
Fast Transact President / CEO, David Solomon, said, “The Fast Transact customized integration technology complement will enhance FrontStream’s electronic transaction processing offerings. Together, we believe this positions the newly combined company to better address customer demands for secure, PCI-compliant processing of Internet and POS payment transactions, data-rich reporting, and value-added services.”
Arsenal executives, Jeffrey Kovach, Carty Chock, and Eugene Gorbach will serve on the FrontStream board.
FrontStream previously raised venture backing from investors who include Atlanta’s Noro-Moseley Partners.
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