Sometimes, big announcements can mislead people, but Securus Technologies’ announcement is actually big. In 2015, they acquired JPay Inc., which is the company that revolutionized the corrections industry. JPay introduced e-payments, emails, and productive apps to prison systems in over 30 states. That’s a noteworthy accomplishment by Securus’ standards. Read more articles at securustech.net.
When Securus purchased JPay, it was immediately thrown into the deep end of one of the fastest growing segments of the industry. Fast-growing industries are hard to find success in unless a company has a secret weapon. For Securus, JPay’s experience is going to come in handy if it’s going to dominate the industry.
CEO Rick Smith Securus had a lot to say about the acquisition. First, it’s the best way to produce the best products at the best price. This combination means that the industry now has a clear choice when it comes to selecting the best company for the job.
In the years that Smith’s watched JPay grow, Ryan Shapiro, JPay’s CEO, has been focused on expanding his company’s footprint. When the opportunity to join a larger company arose, he jumped at the acquisition. This means that his smaller company now has access to a large corporation’s vast resources.
As soon as the acquisition was finalized, JPay began working on much bigger projects. The innovative company is committed to developing a plethora of groundbreaking products. Shapiro believes that his team’s relentless determination means that these products can be developed in a fraction of the time. Read more on Crunchbase.com.
The best part of the acquisition is in the fine details. Because Securus executives admired JPay for so long, they don’t want to change anything about the company. JPay is considered a subsidiary of Securus and will operate normally as a separate company. The only difference is JPay’s access to Securus’ networks and resources.
This acquisition made both companies grow in value. Smith even calls his company a strong investment. He means that in several different ways but mostly a great investment for the community. His company works closely with law enforcement and corrections agencies to ensure that the surrounding communities stay safe.
As a result, his company gets thousands of letters and emails from the community, including inmates and their families. All the new services being added to the prison system allows everyone to improve their lives.