Franklin, TN (PRWEB) November 12, 2005
Valutec Card Solutions, Inc., a leading U.S. provider of turnkey gift card, loyalty and stored value services to over 20,000 small and mid-market merchants, announced today the acquisition of Mellennia, a division of Prime Time Communications, Inc. Mellennia, headquartered in Portland, OR, provides off-the-shelf and customized stored value solutions to merchants in the retail, financial, healthcare and government markets. The terms of the transaction have not been disclosed.
"This acquisition underscores Valutec's position as the dominant provider of stored value solutions within our target market and distribution partner footprint," said William B. Horne, President and CEO of Valutec. "Mellennia’s proprietary solutions for vertical markets, custom programming capabilities and West coast presence underscore our strategic commitment to aggressively drive market growth. We continue to be interested in pursuing further consolidation opportunities to broaden our reach and capabilities."
"This is an exciting opportunity for Mellennia and our customers. Valutec enables us to leverage their innovative product and marketing strengths to enhance capabilities for our existing clients and attract new merchant customers through superior service, expanded solutions and solid industry expertise," said Mellennia founder and President, Kofi A. Oduro, Sr. “Valutec’s comprehensive industry partnerships, experience and market position combined with Mellennia’s resources serve as a strong testament to our commitment to significantly expand our merchant presence."
About Valutec Card Solutions
Valutec Card Solutions is the leading provider of turnkey gift and loyalty card services to small and mid-market general and specialty retail, restaurant, spa/beauty salon and hospitality merchants. Headquartered in Franklin, Tennessee, the privately-held company processes gift card payments for more than 20,000 merchant locations throughout the U.S. and has distribution relationships with over 500 Independent Sales Organizations (ISOs), processors and acquirers. For more information visit http://www.valutecinfo.com.
Mellennia is a nationwide provider of standard and customized, pre-paid electronic card solutions in the retail, restaurant, financial, health care and government markets. Services range from gift card processing and customer loyalty programs to corporate cards. Clients receive flexible, easy to use technology that allows them to aggressively compete in the marketplace. For more information visit http://www.mellennia.com.
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