Noro-Moseley Partners

Tennessee's FrontSteam Payments buys Direct Technology Innovations

5/20/2008

FrontStream Payments, Inc. a provider of payment solutions to small and medium-sized businesses, has acquired Direct Technology Innovations. Terms of the deal were not disclosed.

“In April, we announced our first round of funding and said we would use the money to rapidly become a market leader through strategic acquisitions,” said Emmet Seibels, CEO and Co-founder, of FrontStream Payments.

“Direct Technology Innovations is a perfect fit for us in that they immediately strengthen our market footprint in the core areas of ‘quick service’ restaurants and ground transportation.”

Founded in 2001 and based in Fort Lauderdale, FL, DTI is a recognized industry leader in providing advanced technology solutions and services. DTI has also cultivated numerous and substantial preferred vendor relationships, as well as a solid Agent/ISO sales channel.

It sells Swipe N' Go, an applicaton that speeds credit card transactions; Mobile Ticketing Solutions, and Click to Go online ordering.

Marc Scheipe, President and Co-founder of FrontStream Payments, said that the DTI business unit and its employees would continue to be based in Ft. Lauderdale and that Slominski will become part of FrontStream Payments; management team.

“Our acquisition strategy is to find companies that excel in defensible niche markets and work hard to expand on what they have built,” said Scheipe. “Further, we are looking for great people who have a desire to build something larger together. We are excited about partnering with the DTI management team.”