Retriever Payment Systems and Iron Triangle Payment Systems Announce Combination.HOUSTON & LOUISVILLE, Ky. -- Retriever retriever: see sporting dog. retriever Any of several dog breeds, bred to retrieve game, that have a thick, water-resistant coat, keen sense of smell, and “soft” mouth that does not damage game. Retrievers are 22–24 in. Payment Systems ("Retriever") and Iron Triangle Payment Systems, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("ITPS ITPS International Theme Park Services, Inc ITPS Integrated Test Program Schedule ITPS Intelligent Transportation Planning System ITPS Identifying Technical Publications Sheet ITPS Information Technology and Professional Services ") are pleased to announce their combination as of January 1, 2005. Retriever is a leading processor of credit card and other point-of-sale payments serving more than 95,000 merchants and processing approximately $8 billion in annual volume. ITPS was formed in 2003 by Tom Wimsett, former 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 National Processing Company (NYSE NYSE See: New York Stock Exchange :NAP), to build a leading provider of transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. and payments services. As a result of the combination, Retriever will become a subsidiary of ITPS. Retriever's existing investors, including CEO Bill Higgins and other members of management, have converted their ownership of Retriever into securities of ITPS. All members of Retriever's existing senior management team will remain with the company, which will continue to operate as Retriever Payment Systems. Both Retriever and ITPS are portfolio companies of GTCR GTCR Glacier Travel and Crevasse Rescue Golder Rauner, LLC, the leading private equity investor in the transaction processing industry. "We are extremely excited about Retriever's growth opportunities," stated Wimsett. "Bill Higgins and his team have established Retriever as one of the largest and most respected merchant acquirer sales organizations in the credit card industry. Their recent technology investments, coupled with their unmatched focus on serving and supporting their distribution partners, position Retriever as an outstanding partner for leading independent sales organizations and talented sales people." Retriever provides credit card processing and other point-of-sale payment related services to small- and medium-sized merchants, primarily through independent sales groups. The company offers integrated transaction processing support for all major credit cards, as well as ATM/debit cards, EBT EBT See: Earnings Before Taxes (government financial support programs), check conversion, specialty cards, gift cards and loyalty cards. GTCR and Retriever management acquired and recapitalized Retriever in July of 2004 in a $250 million transaction. "We are also very excited about this transaction," stated Bill Higgins, president and CEO of Retriever. "I've known Tom for a number of years and witnessed firsthand the integral role he played in creating substantial value for all stakeholders at National Processing. Tom will be instrumental in helping to increase Retriever's distribution network and expand our sales channels." GTCR Principal Collin Roche stated, "The combination with ITPS positions Retriever to build on its history of unparalleled service to independent sales groups while also pursuing exciting new growth opportunities. We look forward to continuing our partnership with Tom Wimsett, Bill Higgins and the rest of the senior management team." About Retriever Founded in 1986, Retriever is one of the fastest growing U.S. merchant acquirers and transaction processors, providing payment processing and other related services to small- and medium-sized merchants for credit card, debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. and other payment transactions. Retriever focuses on providing its sales groups with unparalleled focus and support through industry-leading service and technologies. The corporate office, located in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the , provides full customer service and support for merchants in all 50 states. For more information, visit www.retrieveronline.com. About ITPS Based in Louisville, Kentucky  “Louisville” redirects here. For other uses, see Louisville (disambiguation). , Iron Triangle Payment Systems, LLC was formed in 2003 to pursue growth and acquisition opportunities in the transaction processing and payment services industry. For more information, visit www.irontrianglepaymentsystems.com. About GTCR Golder Rauner, LLC Founded in 1980, GTCR Golder Rauner, LLC is a leading private equity investment firm and long-term strategic partner for outstanding management teams. The Chicago-based firm pioneered the investment strategy of identifying and partnering with exceptional executives to acquire and build companies through a combination of acquisitions and strong internal growth. GTCR currently manages more than $6 billion of equity capital invested in a wide range of companies and industries. More information about GTCR can be found at www.gtcr.com. |
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