|[ Lexcelerated News ]
June 29, 2011
Clear2Pay acquires Lexcel (US) to widen global footprint and
strengthen portfolio of test solutions
Brussels/Phoenix, 29 June, 2011 – Clear2Pay, the international technology provider of
next generation payment solutions for financial institutions, today announces it has acquired Lexcel
Solutions, Inc., a US-based provider of payment test applications for core payment platforms and
system capacity. This acquisition complements the company's current range of test solutions..
Lexcel Solutions provides payment testing software and services to third-party payment transaction processors, debit and credit networks, financial institutions, retailers, ATM/POS manufacturers and government organizations. Lexcel's expertise and test solutions along with Clear2Pay's Integri-branded test product range will create one of the most robust end-to-end testing platforms in the marketplace. The Lexcel team remains in place and now collaborates closely with the Clear2Pay team to foster the growth of test products and test services in North America. Lexcel's clients include major US banks and foremost companies such Heartland Payment Systems®, STAR® Network, Wincor Nixdorf, Mercury Payments®, United States Postal Service®, and WorldPay.
Michel Akkermans, Chairman and Chief Executive Officer of Clear2Pay states: "The Lexcel acquisition is a perfect
fit with our growth strategy of both expanding our footprint, as well as our product range. We feel that payments
modernization requires more than flexible technology alone. Testing across the full process chain from device
manufacturer to processor and the end user is of vital importance to the delivery of secure payments or value in
an increasingly unified and hybrid world. With the new combined test tool offering we can support the broadest
possible range of devices and technologies and thus develop testing as a strategic line of business for the bank,
card and mobile payment space alike".
"We are excited to be part of Clear2Pay, a company that takes a holistic view on the demands of the payments
industry with its technology, solutions and people. This creates great opportunities not only for Lexcel, but for our
customers as well," said Carl Kubitz, President and Chief Executive Officer of Lexcel. "We are looking forward to
expanding the array of test and payment solutions to our current and Clear2Pay's customers".
Jürgen Ingels, Chief Financial Officer and co-founder of Clear2Pay concludes: "The Lexcel acquisition is the
second deal funded by the proceeds of our 50 million euro capital increase, a fund raising round we concluded
late 2009 with a consortium led by Aquiline Capital Partners. We expect more acquisitions to follow in the coming quarters that will further enhance Clear2Pay's position in the global payments industry."
|About Lexcel Solutions, Inc.
Doing business in North America, Europe and South America, Lexcel provides end-to-end payment testing software and services to third-party transaction processors, debit and credit networks, financial institutions, retailers, ATM/POS manufacturers and government organizations. The company works with such well-know companies as Heartland Payment Systems®, STAR® Network, Wincor Nixdorf, Mercury Payments®, United States Postal Service®, and WorldPayTM. Lexcel products reduce the time, cost and effort to perform transaction network test scheduling, maintenance and execution, regression and stress testing, and settlement testing for ATM, POS, EFT and EMV transactions. Clients of Lexcel improve the quality of their software development operations and ensure compliance with ISO8583 testing requirements while increasing processing system integrity. More information on Lexcel's end-to-end testing solutions can be found at www.lexcel.com.