SafeCharge to Acquire CreditGuard for $8M

SafeCharge, an e-processing company owned by Israeli billionaire Teddy Sagi, continues to grow with the $8 million acquisition of payment processor CreditGuard expected to be finalized in January 2015.

David Avgi, SafeCharge CEO, said, "CreditGuard is highly regarded within the payments industry, with a solid portfolio of clients across multiple market sectors and a vast knowledge and expertise in Enterprise IT infrastructures, networks and security.

“This enables us to fast-track our entry into new verticals and take a strong position in the exciting Israeli market."

CreditGuard chief exec Uriel Ben David said that the takeover will help deliver CreditGuard's technologies and services to a wider market.

“We are excited to be joining the SafeCharge team, which is a true leader and a respected player in the online payments space," David said.

  • Jade lcb

    jade

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    When I read this the first thing that came to my mind was, they are going to have to change their name. Maybe they will change it to :Safe Guard" or "Right Guard " you know, like the soap and deodorant. A clean payment processor, ha. ha.....

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