Avolent Completes Acquisition of Solant.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Jan. 16, 2001 Avolent, Inc., the leading provider of Electronic Bill Presentment and Payment See EBPP. (EBPP (Electronic Bill Presentment and Payment) Sending invoices to customers over the Internet. When payment is due, an e-mail is sent with a link to a Web page that contains the billing information and the payment services that are supported. ), Electronic Invoice Presentment and Payment (EIPP EIPP Electronic Invoice Payment and Presentment EIPP Electronic Invoice Presentment and Payment ) and Interactive Customer Care (ICC ICC See: International Chamber of Commerce ) software solutions, today announced that it has completed the acquisition of Solant, a pioneer in the integration of advanced business-to-business and business-to-consumer EBPP and ICC applications. The two companies announced a definitive agreement to join forces on October 16, 2000. "This is a very exciting time for us as a company and for the Internet billing industry in general," said Douglas S. Thompson, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Avolent. "The new Avolent is uniquely positioned to deliver complete electronic billing Electronic billing is the electronic delivery and presentation of financial statements, bills, invoices, and related information sent by a company to its customers. Electronic billing is also referred to as the following:
About Avolent Avolent is the leading provider of standards-based software solutions for Electronic Bill Presentment and Payment (EBPP), Electronic Invoice Presentment and Payment (EIPP) and Interactive Customer Care (ICC). Avolent's BizCast(TM) software provides benefits to all parts of the business-to-business delivery chain -- including billers, payers, service providers, exchanges and financial institutions. Through a unique, data-centric approach, BizCast automates the entire "invoice to pay" process by helping businesses present, route, reconcile, dispute, analyze and pay invoices online. The company's modular BillCast(TM) software suite enables relationship-centric billers to deploy secure, scalable solutions for personalized billing, statement presentment, payment and service delivery that increase the value of each customer interaction. Founded in 1995 and headquartered in San Francisco, Avolent helped pioneer the Open Financial Exchange (OFX OFX Open Financial Exchange OFX Outer Fix OFX Open Effects ) standard for online bill presentment and the thin consolidator model, and continues to champion open standards, including the Interactive Financial Exchange (IFX IFX - ["Type Reconstruction with First-Class Polymorphic Values", J. O'Toole et al, SIGPLAN Notices 24(7):207-217 (Jul 1989)]. ). In October 2000 Avolent signed a definitive agreement to acquire Solant, a pioneer in the integration of advanced business-to-business and business-to-consumer EBPP and ICC applications. Avolent's customers are some of the largest billing organizations and service providers in the industry, including Advanced Radio Telecom, AT&T, CyberBills, DotsConnect, Intuit, MasterCard, Metavante, Spectrum, Trivergent, Wells Fargo and YourAccounts.Com. For more information, please visit www.avolent.com or call (415) 553-6400. Avolent, BillCast and BizCast are registered trademarks of Avolent. All other product and company names are the property of their respective owners and are hereby acknowledged. |
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