Acquisition to Fuel Global Growth in Hospitality and Retail Market Segments
ATLANTA–(Business Wire)–NOVA Information Systems (NOVA), a wholly owned subsidiary of U.S.
Bancorp (NYSE: USB), today announced that it has entered into a definitive agreement to purchase Southern DataComm (SDC), a payment software and gateway services provider based in Largo, Florida. The deal is expected to close in early February.
“The addition of Southern DataComm’s solutions offering to our global acquiring business results in a true end-to-end solution offering that is unmatched in the industry,” said Stuart C. Harvey,
Jr., president, NOVA. “Their experience in the hospitality and multi-lane retail markets, combined with NOVA’s recent completion of an International Processing Platform, will allow us to more quickly
develop and deliver a best-in-class hosted global gateway platform.”
Southern DataComm was founded in 1985 by Gary Eng, president. The company has built a solid reputation in the U.S. payments industry, serving more than 50,000 merchants. Additionally, hundreds of value-added resellers (VARs) have certified their systems to connect through Southern DataComm, supporting a strong one-to-many value proposition. Annually, more than $50 billion travels through its gateway switch, which supports 200 interface modules, helping connect merchants to their choice of acquirers and processors.
“We have a strong reputation as a trusted provider of secure, robust and flexible solutions for our clients,” said Gary Eng. “We look forward to exploring new global opportunities with NOVA, while maintaining our valuable position as an independent single-source solution provider to merchants, POS providers, VARs, ISOs and acquirers.”
The deal was completed in February 2008. Read more about our own penetration into the hospitality market.