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Last updated on April 19, 2014 at 7:10 EDT

Clear2Pay Acquires Lexcel (US) to Widen Global Footprint and Strengthen Portfolio of Test Solutions

June 29, 2011

BRUSSELS and PHOENIX, June 29, 2011 /PRNewswire/ –

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(R), STAR(R) Network, Wincor Nixdorf, Mercury Payments(R), United
States Postal Service(R), 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”.

Juergen 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.”

Editor’s note: All trademarks other than Lexcel products are the
property of their respective owners.

        For more information:
        Clear2Pay NV/SA
        Conny Dorrestijn - VP Corporate Marketing and Analyst Relations
        Email: conny.dorrestijn@clear2pay.com
        M: +31-651-067201

        Steve Lacourt - Marketing and Communications Test solutions
        Email: steve.lacourt@clear2pay.com
        T: +32(0)27-17-69-00

http://www.clear2pay.com/pages/en/index.htm

http://www.lexcel.com/About_Lexcel.html

SOURCE Clear2Pay


Source: newswire