Sysnet Global Solutions Closes Acquisition of Saas Markets

News provided by

Mar 11, 2014, 11:00 ET

DUBLIN and SAN MATEO, California, March 11, 2014 /PRNewswire/ --

Sysnet Global Solutions, a market leader in payment card industry compliance services, specialising in PCI DSS compliance validation and merchant retention solutions for acquiring organisations, has closed its acquisition of SaaS Markets, the Enterprise Cloud Marketplace provider. SaaS Markets is a leading provider of cloud marketplaces to companies across the globe. With this acquisition, Sysnet strengthens its leadership position as a global, Payments Industry software provider that delivers powerful and effective software and services to the world's leading Financial Services companies and enterprise consumers of PCI services. The terms of the acquisition have not been disclosed.

Post-closing, Sysnet strengthens its position in the North American and European markets combining the clients of both companies. Both organisations are recognised as leading providers in their respective fields with Sysnet incorporating the MarketMaker platform from SaaS Markets within the award winning Sysnet.air™ platform. Both companies have worked together closely over the past 2 years ensuring a seamless transition for customers and partners of SaaS Markets.

"First and foremost, I believe this acquisition benefits clients of both businesses because it expands the depth and breadth of our solutions and services, giving us even broader, leading-edge solutions for our clients", said Gabriel Moynagh CEO of Sysnet Global Solutions. Today, leading Acquirers around the world are looking for ever more progressive solutions to meet the needs of their merchants. With this acquisition, Sysnet solidifies its position as one of the market's leading Payments industry solution providers and, indeed, one of the most progressive".

"The sale of SaaS Markets represents the next phase of growth for our platform and Sysnet are the perfect partner to enable us to do this. Given the depth of Sysnet's experience in the financial services industry and the breadth of its operations, our MarketMaker platform will continue to develop and ultimately be adopted by the most progressive companies globally" said Ferdi Roberts, CEO & Founder of SaaS Markets. This represents a win for our clients and for the collective efforts of the employees who enabled us to reach this outcome. I am tremendously excited by the opportunities that lie ahead and look forward to working with Sysnet to continue to build on our success to date.

About Sysnet Global Solutions

Established in 1989, Sysnet Global Solutions provides payment card industry compliance services, specialising in PCI DSS compliance validation and merchant retention solutions for acquiring organisations. Sysnet offers a range of services, including its award-winning, proprietary, compliance management and merchant intelligence solution Sysnet.air^[^TM^], to a wide variety of businesses including acquirers, ISOs, international banks, payment service providers and merchants. Headquartered in Dublin, Ireland, Sysnet has clients in more than 40 countries worldwide and has been operating and providing services to clients in the United States since 2009.

For more information, please visit http://www.sysnetgs.com

About SaaS Markets

SaaS Markets (based in San Mateo, CA) is the cloud marketplace company, powering the largest network of cloud marketplaces in the world. Through relationships with major financial institutions, technology companies, small business associations, and leading brands, SaaS Markets is bringing SaaS applications to millions of small and medium-sized businesses around the world. SaaS Markets offers companies a user-friendly portal that makes it easy to choose the cloud-based tool that is right for their business needs.

For more information, please visit http://www.SaaSMarkets.com http://www.amecommerce.com/

SOURCE Sysnet Global Solutions