SAN DIEGO -- Global Axcess Corp. (OTC Bulletin Board: GLXS), a provider of non-banking ATM network consumer and financial products and services formerly known as NetHoldings.Com Inc. (OTC Bulletin Board: NHCC), has completed the acquisition of the assets and business interests of IFT Financial Group Inc., a San Diego-based independent owner and operator of ATM machines.
Terms of the stock transaction were not disclosed.
David Fann, IFT Financial Group chairman and chief executive officer, joins Global Axcess as chairman and CEO of the newly merged company. Prior to joining IFT, Fann was chairman and CEO of TeraGlobal Corp., a publicly traded communications technology company. Earlier, he was president of TechnoVision Communications and served in senior management positions for various technology and communications companies.
According to Fann, Global Axcess' mission is to become the leading global ATM network and services provider through network acquisition and internal development of turnkey consumer and business-to-business transaction solutions and products.
