Skyview Capital has acquired the RAS-TRAX business unit of UTStarcom (Nasdaq: UTSI). No financial terms were disclosed. The Bensenville, Ill.-based unit will be renamed Traxcom Technologies, and provides secure transaction processing products and technologies.
PRESS RELEASE
Skyview Capital, LLC, a privately held investment firm headquartered in Beverly Hills, CA, announced today the successful acquisition of the RAS/TRAX Business unit (www.traxcomtech.com), from UTStarcom (NASDAQ GS: UTSI), a global leader in the manufacture, integration and support of IP-based, end-to-end networking and telecommunications solutions.
“Acquiring one of only a handful of providers of leading edge technologies in the rapidly growing secure transaction processing industry gives us a solid platform to build new emerging technologies in an evolving market with new channels and delivery systems. This investment in high volume, high growth, and high value transactions is directly in line with our core investment principle of building strong companies with mission-critical products that have global acceptance within an established blue-chip customer base,” stated Alex Soltani, Chairman and CEO of Skyview Capital.
Skyview will continue the operations, support, and further development of these solutions under the new name of Traxcom Technologies, LLC, with the same staff that has developed and managed the technology and business under its previous ownership. This is an important step in assuring seamless transition and continued progress in this highly specialized technical operation.
About Traxcom Technologies, LLC
Traxcom Technologies, LLC’s is based in Bensenville, IL and is a global leader in secure transaction processing products and technologies originated in 1989 under the initial ownership of US Robotics and later developed by 3Com and UTStarcom. Traxcom’s secure transaction product Total Control 1000 currently processes more than 1.5 Billion transactions per month. Its products are installed and running in most of the major Carrier, Acquirer and Merchant networks today, with a worldwide customer base deployed in 55+ Countries. A new product line has been developed ready for launch called Access Guard 500, which is the next generation in the IP to IP Networking sector. Secure solutions are available for Dial to x.25; Dial to IP; and, IP to IP networks. Traxcom operates a global organization responsible for providing products and services to market leading customers in North America, Central and South America, Europe, the Middle East, Africa, India, Japan and Southeast Asian countries.
About Skyview Capital, LLC
Skyview Capital, LLC, is a private investment firm headquartered in Beverly Hills, California, which specializes in the acquisition and management of “systems – critical” businesses in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial strength, Skyview systematically enhances the long-term value of the companies it acquires. For more information, visit www.skyviewcapital.com
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