Sysnet Increases U.S. Presence With Panoptic Acquisition

Sysnet Global Solutions, a provider of compliance services, has acquired Panoptic Security Inc., a vendor of compliance validation services to small and mid-size merchants, independent sales organizations, acquiring banks and credit card processors.

The acquisition of Salt Lake City-based Panoptic helps consolidate Dublin, Ireland-based Sysnet’s growing presence in the U.S., Sysnet said in a Nov. 15 press release.

“The combined strengths of Sysnet and Panoptic will help accelerate our plans in the United States and, importantly, will provide our U.S. and international clients with a more diverse, and complementary range of client-focused products and services,” Gabriel Moynagh, Sysnet CEO said in the release. “We also believe the acquisition will result in greater efficiencies and significantly increase our market share.”

“With Sysnet and Panoptic joining forces, it allows the combined group the opportunity to offer a larger global footprint and a broader product and service offering,” Matt Hoffman, Panoptic CEO, said in the release. “Our clients will continue to receive the same high quality products, services and innovation they have come to expect from both Sysnet and Panoptic.”