Wallingford, Oxfordshire, June 24, 2019 – Jonas Software (“Jonas”) is pleased to announce the acquisition of CORVID Paygate (“paygate) from Ultra Electronics Holdings plc (“Ultra”). Paygate is a payment processing software business that provides data validation and services to support automated banking and e-commerce transactions.
“The acquisition of CORVID Paygate reflects our ongoing commitment to acquiring complementary payment technologies with synergies across Jonas UK and Europe,” says Scott Saklad, Group CEO of Jonas UK and Europe. “It is a great opportunity to acquire a premium payment processing software provider that helps customers efficiently manage their cash flow, reduce costs and deal with emerging industry standards and regulations. We are excited to welcome the Paygate customers and employees to the Jonas family of businesses.”
Simon Pryce, CEO of Ultra, says, “Jonas is the perfect home for Paygate as they continue to grow and expand their payment processing portfolio. Paygate has some excellent technology, but has little in common with the rest of the Group, and has better growth prospects with an owner who has specific interests and capability in developing payments processing and software. We’d like to thank our CORVID Paygate employees for their contribution to Ultra and wish them and the business the very best of success under their new ownership.”
Paygate was founded in 2016 in Stevenage, Hertfordshire, United Kingdom, Paygate is a premium payment processing software business that provides data validation and services to support automated banking and e-commerce transactions. Paygate is built to take on new and emerging industry standards and regulations such as PSD2, SHA2 and NPA. Paygate provide free software updates to ensure our customers stay compliant and their payments schedules stay on track.
Ultra is a specialist international electrical and electronics engineering company. The Group operates predominantly in defence and other highly regulated markets with particular expertise in the maritime, and C3 (command, communication, and control including cyber) domains. Ultra is a Tier 3 equipment/sub-system and Tier 2 systems provider, focused on providing mission-specific, bespoke solutions for its customers.
About Jonas Software
Jonas Software operates over 80 independently managed software brands around the world, providing them with the strategic guidance and financial security required to be leaders in their respective markets. From its roots formed in the construction and club management markets, Jonas Software’s reach has grown extensively within the fitness, membership, hospitality and industrial verticals. Today, Jonas Software is proud to supply industry-leading enterprise management software and related services to more than 80,000 customers in 20 vertical markets.