softgate company logo

The profile is currenly unclaimed by the seller. All information is provided by CB Insights.

soft-gate.de

About softgate

Softgate has been active in the field of high-quality IT services since 1992 and is today one of the established and renowned medium-sized companies in Germany.

softgate Headquarter Location

Allee am Röthelheimpark 43

Erlangen, 91052,

Germany

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest softgate News

TIO Networks Closes Acquisition of Softgate Systems, Inc.

Jul 29, 2016

TIO Networks Closes Acquisition of Softgate Systems, Inc. Monday, April 25th, 2016 Posted on April 25, 2016 at 5:58 am Creates the largest North American provider of walk-in bill payment services with a pro-forma revenue run-rate of over CAD$105 million Highly accretive: drives additional USD$37 million in revenue and USD$5 million in EBITDA TIO expects to utilize more than USD$30 million in Net Operating losses to reduce taxable income Combined companies process approximately 80M transactions per year valued at over USD$9B Silicon Valley Bank provided TIO financing in the amount of USD$5.7million in connection with the transaction TIO welcomes two new members to its Board of Directors from Napier Park Global Capital and Edison Partners Vancouver, BC and Fairfield, NJ– April 25, 2016 – TIO Networks Corp., (TSX-V: TNC) (“TIO”), North America’s leading cloud-based bill payment processor, today announced the successful closing of the previously announced acquisition of Softgate Systems, Inc. (“Softgate”), a New Jersey corporation and a leading provider of consumer retail bill payment solutions. Inclusive of its newly acquired subsidiary, TIO will become the largest provider of walk-in bill payment services in North America. TIO will also be one of the leading providers of payment processing and receivables management to national and regional utility, wireless, and cable bill issuers across North America. “The acquisition of Softgate provides a unique opportunity for TIO to scale its business substantially and represents an important corporate milestone as we continue to grow and evolve to meet the needs of our customers,” said Hamed Shahbazi, CEO of TIO Networks. “TIO has enjoyed an eight year relationship with Softgate, and with our cultural and commercial alignment an acquisition felt like a natural progression for our businesses. We expect to be able to expand and extend services towards our customer base across North America, with a strong focus on servicing the underbanked and unbanked population.” On a pro-forma basis the combined companies generated trailing 12-month revenues of more than CAD$105 million. The two companies (inclusive of other TIO subsidiaries), also processed approximately 80 million consumer transactions in the last 12 months, worth over USD$9 billion. As noted in our July 2015 announcement, TIO expects that the addition of Softgate will add more than USD$5 million in incremental EBITDA per year. Softgate also provides TIO with USD$30 million in Net Operating Losses, which TIO expects to use to reduce its taxable income over the next 16 years. “Softgate is excited to join forces with TIO and to create an emerging competitor in the multi-channel bill payment marketplace,” said Rick Auletta, CEO of Softgate. “This acquisition will be beneficial for our current and future customers, providing an increased level of service between the two companies. Both TIO and Softgate possess complementary products and distribution channels in the bill payment industry, and together we can provide a level of service second to none.” As previously announced on July 14, 2015, the consideration for the acquisition included the issuance of 25,000,000 shares to Softgate shareholders, the issuance of an aggregate of USD$4,128,103 in vendor take back promissory notes and the payment in cash of USD$4,617,488. In connection with the transaction, TIO has secured a term loan through Silicon Valley Bank for USD$5.7 million. The loan is repayable over 5 years at an interest rate of prime + 1.5%. “We’re excited to be partnering with TIO to help finance its growth, and we look forward to a long relationship with the company,” said Minh Le, Market Manager serving Washington and Western Canada for Silicon Valley Bank. “We aim to give innovative companies like TIO the financial tools they need at each stage of their development and corporate growth.” As previously announced, as a result of this transaction, Steve Piaker of Napier Park Global Capital and Joe Allegra of Edison Partners will join, and Brett Baris of InterAtlantic Group will step down from TIO’s Board of Directors. “We thank Brett for all his service and support to TIO’s Board and are pleased to welcome Joe and Steve,” said Hamed Shahbazi. About TIO Networks TIO Networks is a cloud-based multi-channel bill payment processing and receivables management provider, serving the largest telecom, wireless, cable, and utility bill issuers in North America. TIO integrates with the back office of billing systems to accept, validate, and collect payments outside of the traditional bank channel, via self-service kiosk, retail walk-in, mobile, and web solutions. With over 66,000 endpoints in its processing network, TIO symbolizes fast, convenient, and secure access to expedited bill payment services. Visit www.tionetworks.com or join the conversation on Twitter and Facebook . About Softgate Systems Softgate provides reliable walk-in bill payment, domestic and international prepaid wireless, prepaid long distance, international top-ups and international bill payments through their PayXchange service. Established in 1993, Softgate connects world-class service providers and consumers through one of the largest networks of independent retail-based payment centers in the US. For more information, visit www.softgatesystems.com   About Silicon Valley Bank For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. For more information, visit www.svb.com

softgate Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

softgate Rank

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.