ATLANTA -- InComm, a technology provider and distributor of prepaid products, said that it has finalized the acquisition of PRE Holdings Inc. (PRE), a U.S. prepaid distributor and processor. The combination of the two companies solidifies the new InComm as the major player of prepaid product distribution, it said.
The company now has more than 145,000 distribution points including big-box retail, grocery stores, discount stores, drug stores, travel centers and convenience stores.
InComm and PRE announced a definitive merger agreement [image-nocss] on Feb. 23, 2006, and effective May 2, 2006, the new company begun operating as one organization.
"We are carefully planning the integration of the two companies to ensure the best of both companies are brought together," said InComm President and CEO M. Brooks Smith. "The integration of the companies will accelerate plans for new products that further enhance profit opportunities for our retail partners."
The new InComm will offer a competitive prepaid product range, including its subscription activation products, prepaid wireless programs, long-distance programs, music and game downloads, private-label and third-party gift cards and a variety of financial services products such as the Mio Money Prepaid MasterCard and Vanilla Visa Gift Card.
Financing for the acquisition was provided by JPMorgan Chase.
Atlanta-based InComm provides prepaid products and point-of-sale (POS) technology specializing in retail prepaid services, subscriber services and payment solutions. It offers wireless airtime, financial debit cards, gift cards, music downloads, ringtones, games, long-distance cards, online games, broadband and digital television, as well as bill payment solutions.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.