(Filed Under Fashion News). Moneris Solutions Inc., part of one of North America's largest credit and debit card processing companies with US headquarters in Chicago, has signed an agreement to purchase substantially all of Eureka, CA-based Humboldt Merchant Services' (HMS) assets.
The acquisition was closed on November 17, 2008, and includes the 18,000 merchant relationships, $2.5 Billion in annual processing volume, and the HMS name, staff, and management team.
The acquisition will significantly increase the size of Moneris' US business and their presence on the West Coast. It will also provide them with additional distribution, products, and sales expertise.
"Acquiring Humboldt Merchant Services fits perfectly with our overall US growth strategy", said Greg Cohen, president of Moneris US.
Humboldt Merchant Services has ample experience supporting the apparel industry, and vice president Steve Kimberling exhibits at or attends more than 15 trade shows per year.
"I too am very excited about the opportunities that Moneris brings to my focus in the intimate apparel industry," Kimberling said, "We will be expanding our involvement in industry tradeshows and have dedicated two additional sales representatives to this segment. For our merchants, new and unique pricing models will become available as well as new product offering for terminals, gateways, and additional services such as Gift Cards and ACH."
For more information contact Steve Kimberling, vice president: (877) 635-3339, firstname.lastname@example.org more
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