iXL Acquires E-Commerce Firm CommerceWAVE
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Internet solutions company iXL Inc. said it acquired CommerceWAVE Inc., a provider of e-commerce solutions and best known for the design and implementation of payment systems for CyberCash and Verifone.
"This not only signals an aggressive strategic move for iXL, but clearly states that e-commerce is at the forefront of our technology agenda," said Bert Ellis, chairman of Atlanta-based iXL Holdings. Financial details of the deal were not disclosed.
iXL said it acquired CommerceWAVE not only for its renowned technological capabilities like Internet payment integration systems and digital cash and credit payment systems, but also for its relationships with top financial institutions, telecommunications companies, specialty retail outlets, as well as other key e-commerce clientele.
CommerceWAVE adds legacy integration, custom transaction processing and business process automation to iXL's strengths in Internet design and engineering, the company said.
Rand Pipp, president and CEO of CommerceWAVE, will become senior vice president of the iXL-E-Commerce group.
CommerceWAVE markets a transaction processing tool-sets, including TransWAVE, a specialized system for implementing industrial strength and scalable e- commerce solutions, and for MerchantWAVE, a Java-based, end-to-end e-commerce application that provides electronic management capabilities.