The Telecommunications industry is an extremely profitable and significant industry in the United States and the rest of the world. one company that has continued to develop a strong network and niche in the industry is Securus Technologies. Securus Technologies is a company that is based out of Dallas, Texas and has continued to build a strong list of clients in the law enforcement industry.
While Securus Technologies has historically been a provider of telecommunications and security services to correctional facilities, the company has recently made other acquisitions that will help allow it to grow and develop in other areas as well. Earlier this year, the company announced that it had acquired GovPayNet, which is going to be a great strategic move for the company.
GovPayNet is a leading provider of credit card processing and acceptance services for consumers, businesses, and the federal government. Overall, the organization has more than 2,500 clients and has a huge overall marketshare in the segments that they serve. The purchase of GovPayNet will be a very product one for Securus that is always looking for more ways in which they can expand and meet new clients.
One way that GovPayNet will fit in nicely is by providing Securus with a better and more affordable way to collect credit card payments. Since so many of their customers pay with credit cards today, it will instantly help Securus to save some operating costs. Furthermore, Securus also views GovPayNet as a great way to grow into another business and area. Similar to the base Securus company, GovPayNet has seen a lot of growth over the past decade. This matches up well with Securus that has seen rapid expansion since the company was first founded only about ten years ago. The combined marketing and sales team should now benefit both business lines.