We are very excited to form NuArx as a new company focusing all of its resources to securing our customer’s electronic payments and to delivering a complete portfolio of compliance products and services to our merchant customers.
Southfield, MI (PRWEB) May 02, 2016
NuArx Inc. (NuArx), today announced its spin-off from ANXeBusiness Corp. (ANX) as a new corporation providing PCI compliance and secure payment solutions to merchants and premium brands. The company previously operated as the compliance business unit of ANX, which has entered into a definitive agreement to be sold to a global leader in Enterprise Information Management.
“We are very excited to form NuArx as a new company focusing all of its resources on securing our customers’ electronic payments and delivering a complete portfolio of compliance products and services to our merchant customers,” said Rich Stanbaugh, former CEO of ANX and the new CEO of NuArx.
Since 2012, more than 2,000 payment card data breaches have affected more than 200 million payment card customers and have damaged the reputations of many trusted brands. The need for solutions that improve and simplify secure transactions continues to grow across the retail landscape. At the same time, new card technologies make maintaining a secure environment that much more complicated for individual retailers.
“As payment card technologies evolve, more responsibility is being placed on merchants for the security of the cardholder data environment,” continued Stanbaugh, “we expect to be the go-to solution for corporate brands and merchants looking to protect their brand equity and simplify their PCI compliance activities.”
In addition to carrying over all the resources and team members from ANX that have made their compliance business so successful, NuArx will also benefit from the continued support of ANX’s previous owner, One Equity Partners (OEP), a private equity firm that invests in a variety of industries including technology and technology-enabled services. OEP has re-invested a portion of the proceeds from selling ANX into NuArx.
“Following our past success at ANX, OEP is continuing to partner with this exceptional management team, supporting NuArx as it grows rapidly by providing critical compliance functions in the payment space,” said Jamie Koven, Senior Managing Director at One Equity Partners. Pacific Crest Securities, a division of KeyBanc Capital Markets Inc. served as financial advisor to ANX for this transaction.
NuArx is a new name for a company with over 15 years of experience in the PCI compliance industry and a track record of serving over 40,000 merchant locations. NuArx makes PCI compliance easy while providing unparalleled expertise and service to its clients. For more information, visit http://www.nuarxinc.com.