CLEVELAND, Oct. 13, 2005 (PRIMEZONE) -- CardinalCommerce Corporation, the leader in payment authentication and e-commerce security, announced today the acquisition of the assets and Customer relationships of iBIZ Software Inc., a privately held provider of authentication software based in Bellaire, Texas, with offices in Germany and Israel.
The acquisition will provide Cardinal with customers in South East Asia as well as strengthen their market position in Western Europe, the Middle East and Africa. Cardinal's authentication products and services will be sold and serviced through the iBIZ distribution network. With the acquisition of iBIZ Software Inc., CardinalCommerce will increase its global sales and servicing capability.
"This acquisition adds to our marketing and sales reach," said Michael A. Keresman, III, Chairman and CEO of Cardinal. "The demand for buyer authentication and fraud prevention systems continues to increase, especially the Verified by Visa, MasterCard SecureCode and PayPal payment initiatives. The iBIZ acquisition will contribute to and support our ability to grow along with the market."
About CardinalCommerce Corporation
CardinalCommerce Corporation is a leading provider of authentication services for banks, merchants, processors and financial service providers. CardinalCommerce also enables payment brands such as Verified by Visa, MasterCard SecureCode, JCB J/Secure, PayPal, Bill Me Later and others worldwide. Cardinal's proprietary and easily deployable technology provides consumers, merchants, credit/debit card issuers, payment brands and processors the ability to conduct authenticated Internet, wireless and mobile transactions safely and securely. Headquartered in Cleveland Ohio, with facilities in the United States, Europe and Africa, CardinalCommerce is able to service a global customer base. For more information visit www.cardinalcommerce.com.
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