RealTime IT News

i-Escrow Acquires Trade-direct

i-Escrow, a provider of online escrow services, has acquired Trade-direct Inc. another major provider of escrow services and a pioneer in the industry. Financial terms were not disclosed.

i-Escrow said the move "strengthens its leadership position in the emerging escrow industry and accelerates the company's brand acceptance as a trusted third party for users of auctions, classifieds, storefronts and newsgroups on the Internet."

"This fits with our aggressive expansion plans and positions i-Escrow well to capitalize on the growing demand for the safety and convenience that escrow services provide," said i-Escrow President Sherman Kwok.

i-Escrow provides transaction management and escrow services for users of Web auctions, online classifieds, online storefronts and newsgroups. Users include collectors, hobbyists and unbranded retailers.