PORTLAND, Ore., Sept. 25, 2013 /PRNewswire/ -- Springbrook Software today announced that they have entered into a definitive agreement under which Springbrook Software has acquired the assets and technology of Merchant Transact, a provider of merchant services for credit card and electronic check processing.
Under the terms of the agreement, Springbrook Software has taken possession of all assets required to operate and process electronic credit cards and checks. This move will allow Springbrook to provide electronic payment solutions that are tightly integrated with citizen services to local government agencies.
"Bringing the merchant processing operations and technology in house puts us in the position to be the dominant full-service provider in our industry," said Steve Rementeria, Springbrook Software CEO. "The tight integration of payments and citizen services gives us a competitive edge that 'payment only' competitors will not be able to match."
About Springbrook Software
Founded in 1985 and headquartered in Portland, Oregon, Springbrook Software provides comprehensive, fully integrated, cloud-based fund accounting and utility billing enterprise software solutions to local government, utilities and special districts.
Contact: Bert Lowry
SOURCE Springbrook Software