xTech Acquires The Credit Index
xTech Acquires The Credit Index
Jun 27, 2006 – St. Cloud, MN — xTech, an information services provider that enables online commerce and direct marketing companies to profitably grow customer relationships while preventing fraud and identity theft, today announced that it has completed an acquisition of The Credit Index (TCI) of Mount Arlington, NJ. For over 40 years, direct marketing companies have utilized The Credit Index data and solutions to identify responsive purchasers and control risks.
“We are very excited about the opportunities this acquisition will create for our customers” said Gordy Meyer, President and CEO of xTech. “Our combined data assets and marketplace expertise will result in new standards for marketing and customer acquisition product performance. Our resources are exactly what direct marketers need to improve acquisition and retention of profitable customers.”
“By uniting the xTech and TCI data resources, direct marketing companies will have access to a database of over 1 billion direct marketing purchase transactions. Many of the transactions are related to consumers who have purchased products on deferred payment terms. We don’t know of any company that will have a broader or deeper database of purchase transactions from this market segment” said Mark Doman, Executive Vice President at xTech. “These resources will provide tremendous insight to companies that sell through on-line and direct marketing channels and to traditional financial institutions that are looking to expand into new and emerging market segments.”
Bob Isom, President and CEO of TCI, stated “This transaction will be extremely valuable to TCI customers. We know that xTech’s data adds incremental value to TCI’s solutions and their automated scoring capabilities are ideally suited to help our customers who have broad and diverse uses for statistical scores. Over the next 6-12 months, many TCI customers will see 20%+ improvement in their solutions because of the combined resources of xTech and TCI.”
About xTech, LLC. xTech, LLC. is an information services company that enables online commerce and direct marketing companies to profitably grow customer relationships while preventing fraud and identity theft. Companies leverage xTech’s extensive data and analytic assets to attract, acquire and retain profitable customer relationships. With its predictive data, the ability to transform data into meaningful customer insight, and the systems to deliver high volume real-time answers, xTech is helping customers improve marketing, payment, credit, and fraud decisions. Additional information about xTech can be found at www.xtechllc.com.
About The Credit Index The Credit Index is a leading provider of consumer information decisioning solutions to the direct marketing industry. Since 1964, The Credit Index has been helping businesses target responsive purchasers and control credit risk. Additional information about The Credit Index can be found at www.tcindex.com
For Immediate Release:
Contact:
xTech
Mark Doman
320-534-5111
markdoman@xtechllc.com
