Metatron (Pinksheets:MRNJ) today announced that it has entered into a Letter of Intent (LOI) with the shareholders of Just Data, a Delaware corporation, to acquire 100% of the outstanding common stock and make Just Data a wholly owned subsidiary of the Company.
The acquisition is expected to close in early September but specific terms were not disclosed.
Just Data, Inc. is an Internet Payment Service Provider (IPSP) that enables merchants to accept payments online. Just Data's flexible solutions process credit cards, electronic checks, and telephone orders, and work with any business model, including internet, broadband, wireless, call centers and even retail establishments. The heart of the Company's strategy with Just Data lies in its ability to scale quickly and leverage Metatron's existing front-end sites and applications, but it is also focused on:
- Creating recurring and predictable revenue streams.
- Maintaining a merchant focused culture.
- Fostering a scalable operating structure.
- Utilizing the latest, advanced technology.
Commenting on the potential acquisition, Joe Riehl, CEO of Metatron, stated, "It's no secret that credit card processing is a huge market. We partnered with Just Data some time ago as it was a natural fit with our business model. Since monetization is the key to our success, it is more important than ever that we not leave any potential revenue on the table.
"The interesting thing that we are seeing now, however, is that while we originally worked with Just Data only with our sites and services, we now have potential contracts in the works just for transaction processing, which we expect to announce soon. In other words, we anticipate that Just Data will prove itself to be a solid, stand-alone revenue generator and will be very happy to welcome them into our team."