Securus Technologies, a provider of technological solutions for law enforcement and correctional applications, has announced that it is buy JPay Inc., a provider of electronic communications technologies for the corrections sector. The acquisition is proceeding via a Stock Purchase Agreement between the two companies.
It’s a big boost for Securus, which was interested in JPay’s payments, email, and tablet technologies for the corrections sector. In a statement, Securus CEO Rick Smith said that these areas are “the fastest growing segments in corrections”, and explained that with the JPay acquisition, Securus “now can offer virtually anything that is high tech/software-based that correction agencies need to operate a modern prison or jail.”
It’s another positive step forward as the company continues to grow. Last summer Securus acquired JLG Technologies to integrate that company’s voice biometrics technologies into its offerings, allowing Securus to delve into a technological area of increasing interest to corrections administrators; and last month the company made a couple of important additions to its executive ranks.
It’s a good deal for JPay too, of course. JPay CEO Ryan Shapiro expressed his pleasure at being able to “expand our footprint” with Securus’ support, and the agreement will see JPay operate as a wholly owned subsidiary, allowing its management to keep running things the way they’ve found best.
April 15 – 2015 – by Alex Perala