Recently, Securus Technologies acquired JPay Inc. The move will see the two technology companies’ team up to provide their customers with an ultimate platform where they can access quality and cutting edge digitized payment, entertainment, education, and communication. These services will target the correctional sector.Rick Smith announced the details of the acquisition on April 14, 2015. According to a press release from Securus Technologies, the acquisition followed a move by Securus to sign a definitive Stock Purchase Agreement. JPay is a renowned leader in the provision of electronic payment, email, educational, and entertainment services for the correctional industry. The company is currently licensed to provide its services to 33 state prison systems. The move by Securus to acquire the company will not only enable the company to expand its services across the United States, but also provide its clients with a wider range of services. This way, the company will have a competitive advantage in the market.
Speaking after completion of the acquisition deal, Securus Technologies’ chief executive officer, Rick Smith, noted the importance of the transaction to the company. According to the executive leader, JPay is a leader in the fastest growing segment considering that they introduced electronic payments emails, and inmate tablets in the sector. Following the acquisition, Rick is confident that Securus is capable of offering high tech/software-based solutions to correctional agencies. These services are crucial in the operation of modern jails and prisons. Rick emphasized on Securus’s goal of offering quality products in the market at affordable prices. He also noted that the products are designed to ensure that prisons and jails have the best security. They also seek to minimize the rate of recidivism among the inmates.JPay is a Miramar-based company that serves over 1.6 inmates in 33 states’ Department of Corrections.
The company entered the corrections market to revolutionize the technologies used in the sector, a move that has seen the facilities enhance security as well as reduce recidivism and waste. The tech company was founded in 2002 and is fully licensed in the US to transmit money.In the recent past, Rick Smith made comments concerning the positive emails that Securus Technologies had received in the previous months. Rick said that the positive emails indicated that the company was on the right path towards achieving its goal of modernizing the lives of inmates in jails and prisons across the United States. He stated that the positive emails proved that Securus is a strong investment and its clients are benefiting from its products. The company has seen using the positive emails as feedback on what needs to be done to ensure that they satisfy the needs of their clients. Smith noted that safety was deeply entrenched in the company’s DNA. Rick is the chairperson and chief executive officer of Securus technologies.