EFS acquires T-Chek Systems
An EFS official said as the industries continued to advance, the T-Chek business and the customers it serves are a much better strategic fit within EFS.
The Trucker News Services
NASHVILLE, Tenn. — Electronic Funds Source LLC (“EFS”), a provider of customized payment solutions for the transportation industry, announced Tuesday its acquisition of T-Chek Systems Inc. of Eden Prairie, Minn., from C.H. Robinson Worldwide Inc.
“We are extremely excited about the synergies and strategic benefits of combining these two highly complementary cultures”, said Scott R. Phillips, president and chief executive officer of EFS. “T-Chek brings exciting new markets and products to EFS in addition to seasoned human capital with strong industry experience.”
“We are proud of T-Chek’s success and of T-Chek’s employees, who built a very strong business with a long track record of growth,” said John P. Wiehoff, chief executive officer of C.H. Robinson. “As the payment services industry continues to consolidate and evolve, scale and alignment with the financial services sector are becoming increasingly important. EFS is an excellent organization and we felt, for T-Chek’s long term success, that strategically it was the right time for T-Chek to join forces with EFS.”
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Phillips said as the industries continued to advance, the T-Chek business and the customers it serves are a much better strategic fit within EFS.
“The convergence of the two companies will bring exciting new payment and technology solutions to the transportation industry,” he said. “Much like our merger between TCH and EFSTS, we do not expect T-Chek customers to require a card change or reissuance, nor work with new customer support personnel as we systematically upgrade both applications using the best solutions from the combined environments.”
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