Omicronn to spin off Trax business

Source: Omicronn

Omicronn announced today that, as of 2005, the Trax division of Omicronn will operate as a fully independent company.

The strategic organization of Omicronn and Trax into two financially strong, independent companies will allow each to focus even better on its distinct type of business and to pursue its own growth opportunities.

Omicronn will continue to deliver high profile financial services and in depth knowledge for complex projects in cash management, treasury and risk management. Trax will focus on providing both Financial Institutions and large Corporations with a highly performing and completely modular platform for streamlining payment flows and cash management services. Both companies will of course closely cooperate whenever relevant.

Hans Cobben, Managing Partner of Omicronn and CEO of Trax said, "Over the last 4 years, Omicronn evolved as a strong and focused player in the provisioning of professional services. In line with that success the Trax platform has rapidly become a mature and internationally very well perceived business solution for financial institutions and large corporations. With the setup of Trax as a complementary legal unit to Omicronn, we guarantee appropriate growth funding, focused R&D and international marketing to sustain the future development of the successful platform. Trax’ objective is to become a global player, the best in its class and to acquire further market share, completing a customer portfolio encompassing already today strong references like Yves Rocher, Coca Cola Enterprise, Ingram Micro and Johnson & Johnson."

Valerie Morel, Director Marketing & Sales of Trax commented, "With Omicronn we had a very successful 2004. Especially for our Trax platform, we were able to build sustainable growth, to substantially enlarge our market footprint and to establish a strong brand name. We look forward to further develop the company as an international key player; we will start from a position of considerable strength and be able to manage and allocate resources and competence to even better serve our customers."

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