ValiCert acquires Tradenable

ValiCert acquires Tradenable

California-based e-security vendor ValiCert is to acquire Tradenable's business payments and settlement assets for up to one million shares of commmon stock.

ValiCert says the acquisition will complement its e-Pay Secure suite of products and services designed specifically for banks, payment networks and processors for trusted B2B and consumer e-payments.

According to TowerGroup, the global banking industry spends approximately $10.8 billion worldwide annually on information technology for payments processing, which represents approximately 12% of the industry's total current annual spending of about $88.8 billion.

Yosi Amram, president and chief executive officer of ValiCert, says: "The addition of the Tradenable technology into the ValiCert e-Pay Secure solution will give us the ability to deliver a more robust e-payments solution which is capable of securely delivering a full range of sophisticated business payment and settlement scenarios to global enterprise customers and their banks and processors."

Privately-held Tradenable provides online clearing and settlement services for e-marketplaces and enterprises. Prior to January 2001, the company was known as i-Escrow.com.

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