TTPA - Trintech Growth Strategy Focused on Transaction Reconciliation Software Business Following the Sale of the Payment Systems Business to VeriFone Monday September 4, 5:13 am ET
DALLAS and DUBLIN, Ireland, Sept. 4 /PRNewswire-FirstCall/ -- Trintech Group plc (Nasdaq: TTPA - News), today announced that it completed the sale of its payment systems business to VeriFone Holdings, Inc.
Following the completion of the sale, Trintech will focus on being a leading global provider of financial software and technology services specializing in transaction verification, reconciliation management, process automation and compliance.
Trintech Chairman and CEO, Cyril McGuire said, "Following this transaction Trintech is now aggressively focused on expanding and growing its transaction reconciliation software solutions business globally. We are investing significant capital to deliver new innovative world class products and services for our growing customer base."
Paul Byrne, President of Trintech, added "The recent hiring of industry veterans in both financial services and healthcare, combined with investment to date in our FMS business and our acquisition strategy, is designed to position Trintech to drive profitable growth in both our core and new vertical markets."
About Trintech Group
Trintech Group Plc (Nasdaq: TTPA - News), a leading global provider of financial software and technology services specializing in transaction verification, reconciliation management, process automation and compliance for commercial, financial and healthcare markets. For over 20 years, Trintech has been providing comprehensive, industry-leading solutions to financial departments seeking greater insight into critical transaction processes. Trintech delivers a configurable, highly scalable platform that incorporates a company's unique business logic, enabling managers to better see and manage business risk throughout the transaction lifecycle. Trintech's transaction management solutions include: ReconNET for high volume transaction reconciliation; AssureNET GL for general ledger reconciliation and certification; Treasure eNET for cash management; Bank Fee Analysis; and the DataFlow Transaction Network for data collection and delivery. Over 400 leading companies in a large variety of industries, including commercial, financial services, and healthcare, rely on Trintech products and services. Clients include: North Fork Bank, 7-Eleven, Kroger, Regal Entertainment, Accor, UPMC, Farmer's Insurance Group, YUM! Brands Restaurants, Rohm and Haas, Verizon Wireless, and Ameren.
Trintech's principal office is in Dallas, US, with international offices in Ireland, the United Kingdom and the Netherlands. Trintech can be reached at 15851 Dallas Parkway, Suite 855, Addison, TX 75001 (Tel 1-972-701-9802), and at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel 353-1-207-4000). For more information, please visit http://www.trintech.com.
Forward Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of the views and assumptions of the management of Trintech Group plc regarding future events and business performance as of the time the statements are made and they do not undertake any obligation to update these statements. Actual results may differ materially from those expressed or implied. For a description of such risks and uncertainties, see the Report of Foreign Issuer on Form 6-K of Trintech Group plc for the quarter ended April 30, 2006 under the heading "Factors That May Affect Future Results."
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