GFI Solutions Acquires Toronto Company Tender Retail
MONTREAL, QUEBEC--(Marketwire - Jan. 10, 2012) - GFI Solutions Inc. (GFI Solutions), a leader in the Canadian IT industry, is proud to announce its acquisition of Tender Retail Inc., a Toronto payment solutions company with a major distribution network in North America. As a result of this acquisition, GFI Solutions will be welcoming some 30 new experts and several hundred new clients to its family. The acquisition will also further strengthen GFI Solutions' presence on Canadian soil, a presence which is already firmly established in Quebec.
GFI Solutions intends to continue Tender Retail's mission and establish a long-term relationship with its new business partners: processing services providers, financial institutions and merchants. It aims to do this by providing exemplary service and access to top-notch payment systems expertise.
"Tender Retail was the missing piece in GFI Solutions' distinctive e-payment product line. We are now at the very heart of e-transactions between financial institutions and Canadian merchants and we are ready to pursue development of the market," says GFI Solutions President and CEO Gilles Létourneau. "We will do everything to conserve the neutrality essential to this strategic position in order to provide optimal service to banks, processors, and merchants," adds Electronic Solutions Executive Vice-President Alain Philippe.
"My team and I are extremely enthusiastic about joining a company of the calibre of GFI Solutions and benefiting from support and expertise which will enable us to successfully continue our mission, meet the growing needs of our clientele and to intensify our presence in the U.S. market," says Tender Retail founder Steve Brook.
GFI Solutions Regional Vice-President Joey Vaccaro will be heading the Tender Retail division. He will be working with the existing management team and employees - including Steve Brook, Michael Loftus and Sachi Morris - to ensure operational continuity and to make sure that business runs smoothly.
GFI Solutions intends to expand its product line, and it will be introducing a semi-integrated payment solution complementary to Tender Retail's offering. With this, GFI Solutions will become the largest point-of-sale payment solutions provider in Canada.
About GFI Solutions
A leader in the Canadian IT industry, GFI Solutions Group Inc. (GFI Solutions) specializes in the design, implementation, integration, and support of business software solutions, in the development of e-business solutions, and in electronic payment, professional, and technical IT services. With some 55 000 clients, nearly 1000 employees, and annual revenue of over $100 million, GFI Solutions is, without a doubt, experiencing an active growth phase. Its most recent acquisitions include activeMedia Développement, Fortsum Business Solutions (now GFI SMB Solutions), and Bell Business Solutions (now GFI Business Solutions). These acquisitions have enabled the company to conquer promising vertical markets and extend its product and service offering to businesses of all sizes, as well as to municipalities and other public service organizations.
About Tender Retail
Founded in 1985, Tender Retail has always been at the forefront of the industry, offering innovative and fully secure payment solutions. The company was the first in Canada to adopt EMV standards and roll out a complete encryption solution for merchants in an integrated payment environment. Today, Tender Retail solutions are integrated into more than 90 000 cash registers throughout Canada and the United States. Find out more at www.tender-retail.com.
Simard Hamel Communications
514 287-9811, extension 15
418 877-5051, extension 2272