Trade Technologies Aquires New Jersey-based Xtreme Docs
Deal Broadens Base of International Trade Documents Leader
Austin, TX (January 20, 2008) – Trade Technologies has announced its acquisition of Xtreme Docs, a New Jersey-based international trade documentation firm.
The acquisition allows clients of Xtreme Docs to take advantage of Trade Technologies' industry-leading web-based platform for managing international letter of credit transactions and its global network of international trade document professionals.
Based in Flanders, New Jersey, Xtreme Docs was founded in 1999 by Elizabeth Payment, who will join Trade Technologies as its Director of Product and Account Management. She brings a total of 14 years of experience in export and import operations, ocean logistics and international trade documentation to Trade Technologies.
"We've been impressed with Elizabeth and her company for some time now, and we're thrilled to have them join us," said Trade Technologies' CEO Kirk Lundburg. "Our technology and global operations combined with Elizabeth's experience provide a powerful solution for her clients."
Prior to the acquisition, Xtreme Docs completed 300 transactions each year for exporters and freight forwarder clients, located primarily in the Northeast. The company will now operate under the Trade Technologies name.
"Trade Technologies' industry-leading turn-around time and web-based platform for online letter of credit presentation will make a real difference in how quickly our clients get paid," Payment said. "It takes our great service and makes it even better."
Trade Technologies is rapidly changing international payment practices that, until recently, relied on the paper-heavy process of letters of credit that had evolved little since the days of Marco Polo. Trade Technologies' Global Trade Management Platform and professional outsourced services are leading the way in enabling exporters and freight forwarders to deliver original trade documentation over the Internet to the world's major international trade banks. This far more efficient process helps customers streamline their operations, eliminate discrepancies and accelerate payments.
The Trade Technologies Platform is quickly setting the industry standard. Large and small international exporters and freight forwarders rely on Trade Technologies' software and outsourced services to facilitate billions of dollars of international payment transactions each year.
Trade Technologies was founded in 1999. Over 1000 exporters, global trade banks and freight forwarders rely on Trade Technologies' software and outsourced services to process billions of dollars of international trade transactions each year.
Trade Technologies has offices in Atlanta, Austin, Boston, Chicago, Hong Kong, Houston, Istanbul, London,
Los Angeles, Mumbai, New York, San Francisco and Singapore.
About Trade Technologies
Founded in 1999, Trade Technologies is the largest global provider of outsourced trade document services and software. From its offices in Asia, Europe and North America, Trade Technologies provides leading exporters, freight forwarders and international trade banks with trade document solutions, training and consulting.
The Company’s web-based TradeSharp platform and outsourced services enable customers to streamline their operations, save money, accelerate payments, and eliminate discrepancies traditionally involved in international letter of credit, documentary collections and open account transactions. More than 1,500 exporters, global trade banks and freight forwarders depend on Trade Technologies’ services to process almost $10 billion in international trade transactions each year. Globally, Trade Technologies is presenting original letter of credit and other trade documents online to 71 examination offices of 24 banks in 13 countries.
Trade Technologies was named by Silicon Review as one of the “50 Smartest Companies of the Year 2016.” In 2015, Trade Technologies was awarded the Presidential “E” Star Award for Export Services by the U.S. Department of Commerce and was selected by CIO Review Magazine for its annual list of the 20 Most Promising Banking Technology Solution Providers. Trade Technologies was voted the “Best Trade Tech Solutions Company” in 2012 by readers of Trade Finance Magazine. In 2011, Trade Technologies won the Presidential “E” Award for Exports through the U.S. Department of Commerce, the highest recognition any U.S. entity may receive for supporting export growth. In 2010, the Company was awarded a patent on the Trade Technologies software platform and process.
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