News
NewNet Communication Technologies Completes Acquisition of Traxcom Technologies
January 2011 by Marc Jacob
NewNet Communication Technologies, a Skyview Capital portfolio company and provider of mobile messaging and signaling infrastructure solutions for wireless, IP and wireline networks, today announced the acquisition of Traxcom Technologies, a global leader in secure transaction processing platforms and advanced encryption technologies. Traxcom, also a Skyview company, will benefit from NewNet’s globally deployed engineering, support and sales organizations.
Processing over 1.5 billion transactions a month, the Traxcom Secure Access product suite provides secure connectivity that enables the delivery of services such as mobile payments, e-banking, and e-commerce. Integrated, next generation encryption technology ensures data confidentiality and safety, enabling carriers to expand current services and enter new markets such as healthcare. All Traxcom platforms are modular and conform to open standards. The platforms support a wide range of end-user payment options including mobile phones, ATMs, Near Field Communication terminals, Point of Sale stations at retail locations, and PC/Netbook/Tablet based applications.
All current Traxcom employees will remain with the business. Traxcom’s General Manager, Angela Ledford, will become NewNet’s Executive Vice President for Operations.
