NXTsoft Acquires Core API and Integration Solutions Company CCMC to Strengthen Its Secure Data-Centric Strategy Focus
The addition of CCMC to the NXTsoft portfolio strengthens NXTsoft's secure data-centric offerings that include data security, data analytics, data management & migration and now secure data connectivity solutions.
BIRMINGHAM, Ala., Aug. 26, 2019 /PRNewswire-PRWeb/ -- NXTsoft (http://www.nxtsoft.com), a company focused on secure data-centric solutions to the market space has acquired CCMC, Inc. (http://www.ccmcinc.com) based in Orlando, Fla., the market leader in providing focused data integration and connectivity solutions to financial institutions nationwide. CCMC offers bidirectional secure application programming interfaces (APIs) to over forty core processing vendors and is the gold standard for financial institutions and FinTech companies seeking API's and software escrow services.
The addition of CCMC to the NXTsoft portfolio strengthens NXTsoft's secure data-centric offerings that include data security, data analytics, data management & migration and now secure data connectivity solutions. CCMC's software offering adds meaningful recurring revenue at high margins to the NXTsoft portfolio. With this acquisition, NXTsoft's 2019 combined SaaS revenues will increase to over $25 million with over $7 million in EBITDA.
The CCMC acquisition adds over 1000 financial institutions to NXTsoft's customer base, bringing the total number of financial institutions and businesses served to over 3300 by 150 employees in offices located in Birmingham, Montgomery and Mobile, Ala., Atlanta, Ga., Denver, Co., Orlando, Fla., and Memphis and Nashville, Tn.
"The acquisition of CCMC complements our previous acquisition strategy and allows us to expand NXTsoft's secure data-centric focus to encompass data connectivity for companies and financial institutions," said David Brasfield, CEO of NXTsoft. "We have some exciting things planned for the CCMC business as we incorporate some of our existing cybersecurity technology around the stellar connectivity solutions that CCMC has spent the past 25 years industrializing and perfecting," he said.
Founder and chief executive officer Gene Lederer will remain CEO of the CCMC business.
"NXTsoft is committed to innovation and growth and is an excellent fit for CCMC," said Lederer. "They have a substantial presence in the FinTech and security space, and they don't present any conflicts with any partners, vendors or core companies that we have built our business serving," he said.
NXTsoft plans to immediately commit personnel and resources to continuing CCMC's development of secure APIs and expanding CCMC's escrow software line of business while also upgrading and enhancing the current products.
About NXTsoft
Headquartered in Birmingham, Ala., NXTsoft focuses on secure data-centric offerings that include data security, data analytics, data management and migration and data connectivity solutions. For more information visit http://www.nxtsoft.com, email info(at)nxtsoft.com or call 1-800-915-3381.
About CCMC
CCMC, Inc. established in 1994, is a professional services and software firm specializing in providing value-added solutions and services to the financial services industry. Our services focus on the integration of disparate systems, as well as data and workflow optimization, to both financial institutions and the major providers of application solutions to the financial services industry. Our partners are some of the best-known technology corporations to the banking industry and represent core processing, loan origination, online banking, and consulting, among others. Based in Orlando, Fla., CCMC provides products and services financial institutions across the United States. CCMC's clients are financial institutions ranging from $2 million to over $40 billion in assets.
SOURCE NXTsoft
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