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Trade Technologies Acquires New Jersey-based Xtreme Docs
Feb 13, 2008 (12:02 PM EST)
AUSTIN, Texas, Feb. 13 /PRNewswire/ -- Trade Technologies has announced its acquisition of Xtreme Docs, a New Jersey-based international trade documentation firm.
The acquisition allows clients of Xtreme Docs to take advantage of Trade Technologies' industry-leading web-based platform for managing international letter of credit transactions and its global network of international trade document professionals.
Based in Flanders, New Jersey, Xtreme Docs was founded in 1999 by Elizabeth Payment, who will join Trade Technologies as its Director of Product and Account Management. She brings a total of 14 years of experience in export and import operations, ocean logistics and international trade documentation to Trade Technologies.
"We've been impressed with Elizabeth and her company for some time now, and we're thrilled to have them join us," said Trade Technologies CEO Kirk Lundburg. "Our technology and global operations combined with Elizabeth's experience provide a powerful solution for her clients."
Prior to the acquisition, Xtreme Docs completed 300 transactions each year for exporters and freight forwarder clients, located primarily in the Northeast. The company will now operate under the Trade Technologies name.
"Trade Technologies' industry-leading turn-around time and web-based platform for online letter of credit presentation will make a real difference in how quickly our clients get paid," Payment said. "It takes our great service and makes it even better."
Trade Technologies is rapidly changing international payment practices that, until recently, relied on the paper-heavy process of letters of credit that had evolved little since the days of Marco Polo. Trade Technologies' Global Trade Management Platform and professional outsourced services are leading the way in enabling exporters and freight forwarders to deliver original trade documentation over the Internet to the world's major international trade banks. This far more efficient process helps customers streamline their operations, eliminate discrepancies and accelerate payments.
The Trade Technologies Platform is quickly setting the industry standard. Large and small international exporters and freight forwarders rely on Trade Technologies' software and outsourced services to facilitate billions of dollars of international payment transactions each year.
Trade Technologies was founded in 1999 by export and trade finance professionals to provide innovative and pragmatic international receivables management professionals and tools for exporters. The company has eight offices worldwide in Atlanta, Austin, Hong Kong, Houston, London, Los Angeles, New York and San Francisco.
CONTACT: John Boit, Trade Technologies, +1-202-468-9413, email@example.com
Web site: http://www.tradetechnologies.com/