WhereDaily News: JetPay Corporation Announces Completion of Acquisition of CollectorSolutions, Inc.

BERWYN, PA --(Marketwired - June 03, 2016) - JetPay Corporation ("JetPay" or the "Company") (NASDAQ: JTPY), a leading provider of debit and credit card processing, payroll and human capital management, and prepaid card services, announced today that it has completed the previously announced acquisition of CollectorSolutions, Inc. ("CSI"), a Pensacola, Florida based debit and credit card processing company specializing in the government, utility, and non-profit sectors. The combined company would have generated pro-forma revenues of $58.6 million in 2015, a 35% increase over JetPay's 2015 reported revenues of $43.3 million, and is expected to produce approximately $700 million of annual credit and debit card processing volume and approximately $4.50 billion of annual e-check processing volume to JetPay. The acquisition was funded by the issuance of shares of JetPay common stock and the absorption of debt and is expected to be immediately accretive.

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