Business
Australis Capital Signs Letter of Intent to Acquire Paytron Merchant Services
Australis Capital Signs Letter of Intent to Acquire Paytron Merchant Services.
About this update from Australis Capital Inc.
[{"type":"text","content":"\n\n\n\nAustralis Capital Signs Letter of Intent to Acquire Paytron Merchant Services\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nAustralis Capital Signs Letter of Intent to Acquire Paytron Merchant Services\nPR Newswire\nLAS VEGAS, Feb. 4, 2020\n\n\n\nLAS VEGAS, Feb. 4, 2020 /PRNewswire/ - Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) (\"AUSA\" or the \"Company\") is pleased to announce AUSA has entered into a non-binding letter of intent (the \"LOI\") to acquire 100% of Paytron, LLC (\"Paytron\"), a privately held omnichannel payment services provider, which will continue its operations as a wholly-owned subsidiary as well as expand the existing service offering of the Cocoon Technology™ platform.\n\n \n \n\n \nFounded in 2015, Paytron offers merchant services, including credit and debit card processing, secure gateway processing, point of sale hardware, card terminals and business loans. Partnered with some of the largest companies in the payment processing industry, Paytron's team brings significant experience in merchant services and independent sales organizations (ISOs). Upon completion of the acquisition, Paytron will continue to operate as an ISO and become the payment branch for Cocoon Technology, an operating subsidiary of AUSA. \nMarc Ruben will also join the AUSA team as Vice President, Payments. Marc is a respected payments executive, proven leader, and force behind multiple high-achieving U.S.-centric merchant sales organizations. He provides a wealth of experience in building strategic partnerships as well as large National and Regional Sales Teams. His experience and successful stints at Bank of America Merchant Services, Sun Trust Merchant Services and First Data Canada over the past 20 years will provide an excellent foundation in payments for the Cocoon Technology team.\n\"Through our acquisition of Paytron and the addition of Marc Ruben and his team, Cocoon Technology will be positioned to bundle self-service technology, payment processing technology and ISO referral networks across North America,\" said Cleve Tzung, SVP, M&A at AUSA....