Global Payments Company NXSystems Plans Management Buyout
Company changes look to future acquisitions and new markets.
NXSystems LTD, a global payments provider that serves the airline, gaming, hospitality and online travel markets, is undergoing a restructuring of its management team in a private buyout. The company has been in talks with a group of investors who have agreed to purchase the shares of the company and appoint a new Board of Directors, while the current CEO, Michael Busher, will retire from his active role and owner of the company. He will, however, provide consultative services on the technology side of the business and assisting with new product launches.These changes will pave the way for an expanded leadership team comprised of banking, financial services, airline and travel sector veterans. The transition is expected to occur without any disruption to NXSystems’ daily operations, the company’s approach to providing bespoke payment solutions to multi-national companies, or its commitment to providing unrivalled customer service to clients.
Completion of the transaction is scheduled prior to the end of 2015. Gay Hamilton, Chief Operations Officer at NXSystems, commented on the firm's new direction.
“These changes, combined with our recent product innovations and current pipeline, set the stage for growth and new leadership at the firm. We look forward to working with our expanded leadership team to create the optimal strategy for our company and to continue serving our clients through the innovative payment technology solutions we bring to the marketplace.”