Lightbridge Plans to Acquire Canada's PSiGate
Lightbridge and Payment Services Interactive Gateway Corp. have jointly announced a non-binding letter of intent whereby Lightbridge plans to acquire all of the outstanding shares of PSiGate of Mississauga, Ontario.
Bob Donahue, Lightbridge President and CEO, stated, "We are pleased to have signed this letter of intent with PSiGate. Their secure transaction processing platform services the Canadian and U.S. markets, and the acquisition is a major step towards our goal of expanding our payment processing capability outside the U.S. In addition, the PSiGate platform brings us one step closer to our strategic vision of offering one-stop shopping for our merchants by being able to support their internet commerce needs in the U.S. and Canada."Anthony Palumbo, President and CEO of PSiGate, added, "We are looking forward to becoming part of Authorize.Net, one of the industry's leading online payment processing services. The blending of the two companies is a natural and complementary fit, which we believe creates a strong single entity well positioned to meet the credit card processing needs for merchants across the U.S. and Canadian markets."
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