Customer engagement data and payment security provider Eckoh has wrapped up its acquisition of Syntec, a UK-based firm providing secure payment solutions for contact centres.
The deal was valued at £31m ($41m).
Syntec caters to an international client base through its offices in the UK and the US.
The firm’s CardEasy offering helps clients enhance their regulatory compliance and security for card-not-present payments. It also provides a Cloud-based offering that is designed to assist organisations in new markets across the globe.
The firm’s technology is said to be safeguarded by a number of patent portfolios in the US, the UK, EU and Australia.
Miele, Locus, Wayfair, Staples, AIB, JetBlue and Hiscox are some of the enterprise clients served by Syntec.
The addition of Syntec is expected to bolster Eckoh’s Customer Engagement security solution and enhance its position in the US market as a secure payments provider for call centre operations.
It will also further advance Eckoh’s enterprise client base and grow its market presence and share in the key markets.
The acquisition of Syntec is highly complementary to Eckoh’s strategy of having the market-leading position in Customer Engagement data and payment security in a global market.
Eckoh CEO Nik Philpot commented: “With the acquisition of Syntec, we can leverage their technology, product and IP to further enhance our security solutions, scale our go-to-market efforts and expand our world-class team.
“This will create additional value for our shareholders by accelerating growth and strengthen the relationships with our valued clients by delivering even higher levels of customer service.”
Syntec CEO Colin Westlake said: “We are joining Eckoh with common goals and values and a shared vision to deliver the safest payment experiences for our clients and their customers all around the world.
“The security challenges for organisations are only growing and by bringing together two successful teams and businesses that are so complementary, it will create an even stronger combined Group that will enable us to offer our mutual clients a broader portfolio of market-leading engagement security solutions.”