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  September 5, 2001
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Home > Company Index > Financial Services > Services to Financial Companies > Towne Services, Inc.

Towne Services, Inc.
Nasdaq: TWNE
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 PROFILE
Towne Services allows businesses and banks to convert in-house credit transactions into automated, virtual credit card accounts. The company's TOWNE CREDIT system electronically processes merchants' in-house credit transactions, and its TOWNE FINANCE and CASHFLOW MANAGER systems provide financing and asset management for business-to-business credit transactions. RMSA Merchandise Planning helps retailers manage their inventories. Towne Services' systems transmit accounts receivable data to businesses' banks and invoice the businesses' customers. Upon receipt of the sales and payment information, the banks advance funds to the companies. Private Business, a maker of financial services software, is buying the firm.

 COMPETITION
Citigroup Inc. (C)
eFunds Corporation (EFDS)
webMethods, Inc. (WEBM)

 DEALS
Deal: Private Business Merges With Towne
Date Announced: 03.13.01
Value of transaction (US $Mil): 0
Description: Small-business financial services firm merges with electronic financial data processor.

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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 25.30
1-Yr. Sales Growth: (15.1)%
Employees: 226
Revenue per employee: $111,946.90

 KEY PEOPLE
• G. Lynn Boggs
    CEO
• Randall S. Vosler
    CFO

 CONTACT INFO
3950 Johns Creek Ct., Ste. 100
Suwanee, GA 30024
US
Phone: 678-475-5200
Fax: 678-475-5252

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