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Avangate Acquires 2Checkout to Expand Payment Flexibility and Broaden Market Reach
Combined company will bring a unique combination of eCommerce and subscription management solutions to market through various payment models across the globe.
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ePayment, producer of Avangate, merges with call center Cvantage
GECAD ePayment, eCommerce solutions integrator, announces its merger with GECAD Cvantage, international call center and sister-company of GECAD Group. The new company will retain the GECAD ePayment name after merger.
As a result of this move, the online payment and eCommerce solutions offered by GECAD ePayment will be enhanced by the add-on of round the clock customer support for both online vendors and buyers. Cvantage clients will continue to be fully supported by the merged company.
"This decision was made based on the development strategies of both businesses: ePayment aimed to include call center support in its offer package, while Cvantage was set to target the IT and banking sectors. The synergy between the two teams lead naturally to their merger." Radu Georgescu, President of the Group, explains.
Carmen Sebe, CEO of Cvantage, will become CEO of the enlarged company and Cristian Badea, CEO of ePayment at the time of the merge, will become CIO of the new enterprise.
Carmen Sebe takes over a company with a strong market position: "We estimate that ePayment exceeded a 70% share of the Romanian online payment market. Our technical solution is exceptional; the aim now is to offer our clients complete services, with added value, and to consolidate this market share. Expanding on the international market is also a strategic objective. 24 hour customer support is essential for the industry that we work in and the fact that the merger is with a company that has valuable experience in projects which span many countries will undoubtedly contribute to the success of ePayment under the new scheme", Sebe declared.
GECAD ePayment targets the international market with integrated eCommerce solutions under the Avangate brand, tailored specifically for software producers and including online payments tools as well as consultancy on how to increase sales via the world wide web.
About 2Checkout (formerly Avangate)
2Checkout, a Francisco Partners portfolio company, is the digital commerce & payments provider that helps companies sell their products and services via multiple channels, acquire customers across multiple touch points, increase customer and revenue retention, leverage smarter payment options and subscription billing models, and maximize sales conversion rates. The company’s clients include ABBYY, Absolute, Bitdefender, FICO, HP Software, Kaspersky Lab, and many more companies across the globe.
Avangate acquired 2Checkout in March 2017. More information about 2Checkout’s Avangate platform and related services can be found on www.avangate.com.
More information on 2Checkout can be found on www.2checkout.com
Media Contact
For media & PR inquiries related to Avangate, please contact:
Delia Ene, Avangate
Phone: +31 20 890 8080
Email:
press@avangate.com
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