News

Trintech acquires Exceptis Technologies for $26M

February 20, 2002

SAN MATEO, Calif. and DUBLIN, Ireland -- Secure electronic payment solutions provider Trintech (Nasdaq:TTPA) (Neuer Markt:TTP) today announced the acquisition of Exceptis Technologies for approximately $26 million.Exceptis Technologies is a leading provider of B2B and B2C Internet enabled payment infrastructure solutions for automated payment card dispute resolution and fraud and risk management for card issuers, financial transaction processors, acquirers and merchants.

Headquartered in Dublin, Exceptis Technologies is an established entity in the automated dispute resolution and fraud management market for payment card transactions. The company has a customer base of over 50 financial institutions worldwide including Barclaycard, Telekurs, eFunds, Bank of Ireland, AIB Bank and Skandinavinska Enskilda Banken (SEB).

Exceptis Technologies' solutions automate the exception management process from end-to-end, increasing efficiency and improving fraud management and customer care. The company is among the first to provide these benefits to all forms of electronic transactions - from credit and debit cards to ATMs and eBusiness.

The acquisition is being completed through the issuance of ordinary shares equivalent to 1.8 million American depositary shares, and a two-year performance earn-out of approximately U.S.$10 million, which will be paid through the issuance of ordinary shares. The acquisition will be accounted for on a purchase accounting treatment basis.