TASQ Technology, Inc. has acquired ASK! Technical Group, the terminal inventories management division of Paymentech, Inc., the third largest processor of bankcard transactions in the United States.
The agreement includes a long-term service contract for TASQ to provide terminal inventory management services for new and existing Paymentech customers. Through strategic alliances with more than 55 companies in the credit card industry, TASQ will furnish inventory management services to more than a million merchants. TASQ will also integrate ASK!ís Cleveland, Ohio facility into their 6,500 sq. ft. facility in Rocklin, California.
The acquisition seems to fit both companies. According to Michael P. Duffy, chief operating officer of Paymentech, "This is another step in sharpening our focus on our core lines of business: direct merchant acquiring, third party processing and commercial card payment solutions." Ron Chaisson, president of TASQ Technology said, "The acquisition and consolidation of ASK! Technical Group is in line with our corporate philosophy of providing higher service levels at more efficient costs to our partners."
