Additionally, it was announced that the staff of the parent in India dedicated to the payments business will be joining PayCommerce as part of the transaction process. PayCommerce, with this acquisition, will establish the Akshay team as PayCommerces SWIFT center of excellence and solution offerings, both stand-alone and integrated with various PayCommerce solutions.
The business will continue to be managed under the Akshay US senior executive with the same team and alliance partners. The acquisition is a divestment of the US subsidiary by Akshay Software Technologies Limited, an India based IT services company.
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