Written on: April 19, 2018 by ICM
RIDGEFIELD PARK, NJ – OSG Billing Services today announced that it has completed the acquisition of Paybox Corp (Paybox), a payments solutions provider that facilitates over $160 billion worth of transactions annually, headquartered in Fort Lauderdale, FL. Paybox will continue to be led by President Matthew Oakes and will operate as a subsidiary of OSG. Paybox was formerly traded on the OTC Markets under the ticker symbol OTC PINK: PBOX, but trading was terminated effective immediately prior to the acquisition.
“This strategic acquisition is fully aligned with our strategy of integrating innovative technologies across the OSG platform,” states Scott W. Bernstein, OSG’s Chairman and CEO. “The combination of Paybox’s powerful accounts receivable and accounts payable workflow management solutions with OSG’s existing integrated payment and B2B offerings will strengthen our position as a partner of choice for technology-driven, transactional and customer communications solutions. We are excited to have the Paybox team join the OSG family.”
“This is an exciting time for Paybox,” says Oakes. “Our technologies bring a new level of expertise to OSG and its customer base that enhance their service offerings while giving us an opportunity to continue to innovate. We are looking forward to the next phase of our company’s growth.”