J&B Software, Inc. Acquires Americom, Inc.Business Editors/Hi-Tech Writers J & B Software, Inc., a leading provider of remittance Money sent from one individual to another in the form of cash, check, or some other manner. Financial statements sent by a creditor to a debtor frequently refer to the process of submitting a monthly remittance. REMITTANCE, comm. law. processing software, announced today the acquisition of Americom, Inc., a New Jersey- based provider of payment services to the banking industry. The acquisition will enable J & B Software to offer its payment processing software products to the financial industry as either outsourced or in-house In-house In the context of general equities, keeping an activity within the firm. For example, rather than go to the marketplace and sell a security for a client to anyone, an attempt is made to find a buyer to complete the transaction with the firm. applications. In the coming months, J & B Software expects to expand the check and remittance processing services currently offered by Americom and introduce new electronic payment options. In keeping with the vision of coordinating multiple payment sources, J & B Software will change the Americom name to Convergent Payment Processing Services, Inc. The final agreement between the two companies takes effect today, July July: see month. 15, 2002. Financial terms have not been released. "We are excited about the opportunity this acquisition provides to expand Americom's service offerings to current clients within the banking industry and to introduce new electronic and image based payment services to a broader market," said Bala Balasubramanian, President 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 J & B Software. Dominick Dom·i·nick n. Variant of Dominique. Noun 1. Dominick - American breed of chicken having barred grey plumage raised for meat and brown eggs Dominique A. Cicco, president of Americom, who is retiring after fourteen years in the banking industry, will consult with the new company during its transition. Edward VanHee, currently executive vice president at Americom, will oversee all operations. "J & B Software expects to continue operating the lockbox Lockbox A collection and processing service provided to firms by banks, which collect payments from a dedicated postal box to which the firm directs its customers to send payment to. services as before under Ed's leadership and make available a number of new services," said Cicco. "I am confident that this acquisition will bring competitive advantages to our clients and generate new revenues for them." About J & B Software J & B Software, Inc. was founded in 1984 to provide quality solutions for the most complex, demanding, and unique payment processing challenges facing payment recipients. Its TMS TMS Transcranial Magnetic Stimulation (alternative medicine for depression) TMS Test Match Special (sports - cricket) TMS Texas Motor Speedway TMS Transportation Management System TMS Toyota Motor Sales Image(TM) suite of software accommodates check, data, correspondence, and remittance processing along with archiving and web access. Check and remittance processing centers for many of the largest and most sophisticated bill processors in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. utilize J & B Software, Inc. and its services, including the country's largest banking companies, over twenty-five state governments, and a broad base of insurance, utility, and mail-order companies. For more information about TMS Image(TM) and J & B Software, Inc., please contact them at 215/641-1500 or sales@tmsimage.com. To visit the web site, log onto www.tmsimage.com. TMS Image is a trademark of J & B Software, Inc. |
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