Trintech acquires US data firm for $5m

Irish electronic payments group Trintech, is to buy a privately owned US firm for $5m (€4.24m).

The Dublin-based company will pay an initial $3m(€2.54) in cash and 150,000 American Depositary

Shares for DataFlow.

A further payment of around $1.5m (€1.27m) will be made based on certain performance targets being met.

DataFlow, based in Dallas, employs 39, and already services 60 Trintech ReconNET customers.

Commenting on the acquisition, Cyril McGuire, CEO of Trintech said,"This acquisition should

be synergistic as it should result in improved market position with both Trintech and Dataflow

customers benefiting from our combined areas of expertise and product set."