PRESS RELEASE: LSSI DATA CORP announced that it has been indirectly acquired by global network services provider NewNet Communication Technologies, a Skyview Capital company. The acquisition arises as a result of the acquisition of LSSiDATA’s direct parent company, Volt Delta Resources, LLC (“VoltDelta”), by NewNet Communication Technologies. Ownership of LSSiDATA was previously held within the Volt Information Sciences group of companies.
LSSiDATA is a market leader in database analytics, validation, and identity products that provide productivity enhancements. Loan originators, debt recovery services and debt buyers take advantage of LSSiDATA’s comprehensive repository of contact detail and solutions that optimize productivity to more effectively identify, locate and engage.
“This acquisition provides LSSIDATA with a parent company in NewNet that is aligned with our technology and investment requirements,” said Rick Kurtz, Vice President and General Manager of LSSIDATA. “Our ability to deliver innovative solutions that combine predictive analytics with frequent and massive database updates is enhanced with NewNet’s foundation of experience, talent and resources.”
Included within the LSSIDATA product portfolio is the ConneX automated skip tracing solution which provides agents with optimized contact strategies based on sophisticated data algorithms. ConneX allows agent to focus on locating and engaging debtors by intelligently automating data mining efforts.
“The alignment of LSSiDATA with NewNet represents a significant milestone in the evolution and expansion of NewNet’s product portfolio and market focus. The combination of these businesses allows us to expand our services and core competencies to address needs in the risk and data industries. We look forward to growing the LSSiDATA “Big Data services,” said Alex Soltani, Chairman and CEO of Skyview Capital.
The share purchase agreement was signed and the transaction simultaneously closed on December 1, 2014. Terms of the agreement were not disclosed by Skyview Capital.