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FOR IMMEDIATE RELEASE
CONTACTS:
Pete
Schuddekopf Carolyn
McEwen
Hypercom
Corporation Casey Sayre &
Williams
602.504.5383
310.396.2400
pschuddekopf@hypercom.com cmcewen@cswpr.com
Marvin (Mickey) Goldwasser Andrew
McCaskill
Open
Solutions Inc. Open Solutions
Inc.
860.652.3153 Media
Contact for Open Solutions
mgoldwasser@opensolutions.com 678.781.7210
Open Solutions Canada Selects
Hypercom’s HBNet for One of Canada’s Largest Off-Premise ATM
and POS Networks
PHOENIX and GLASTONBURY, May 21, 2008 – Open Solutions Inc.®
and Hypercom Corporation (NYSE: HYC) today announced HBNet, Inc., a
Hypercom® subsidiary, will provide high speed transaction transport
services for Open Solutions Canada, the Canadian subsidiary of Open
Solutions, which operates one of Canada’s largest off-premise ATM
and point-of-sale networks. Open Solutions is a leading provider of
integrated enabling technologies for financial service providers across
the United States, Canada and internationally.
“HBNet
brings us the exact specifications we need in terms of stability and
security that would be impossible to replicate internally,” says
Rob Palin, general manager of the Payment Solutions Group at Open
Solutions Canada. “We believe HBNet is the fastest and most
reliable network and that it will make our payment processing in Canada even more competitive.”
The
use of HBNet will enhance Open Solutions Canada’s ability to
smoothly and securely process millions of ATM and POS transactions each
month to financial institutions. HBNet’s unparalleled performance
is achieved through multiple network and equipment redundancies that
guarantee the seamless routing of all transactions. HBNet also provides
the industry’s highest level of security for dial and Internet
transaction processing.
“Open
Solutions Canada is a premiere Canadian account and one that validates
HBNet’s offering of performance, price, service and
know-how,” says Connie Festa, HBNet Vice President Network Services
at Hypercom.
Hypercom’s
HBNet network speeds the authorization and processing of electronic
transactions for retail point-of-sale, financial, government, health care
and other customers in both the dial and IP POS markets.
HBNet
is powered by robust, ultra high-density MegaNAC® 180 Network Access
Controllers (NACs) strategically positioned within the North American Public
Switching Telephone Network (PSTN) and at processor data centers. It
supports all POS terminal protocols at any modem speed up to V.92 and
provides uninterrupted service with no single point of failure, seamless
load balancing, state-of-the-art Web-based reporting, and simple
all-inclusive pricing.
About Open Solutions Canada (www.ca.opensolutions.com)
Open
Solutions Canada designs, builds, integrates and operates advanced
banking and payment technologies for financial institutions, retailers,
independent sales organizations (ISOs), third-party organizations and
processing centers worldwide. Open Solutions Canada’s Payment
Solutions Group supports and markets state-of-the-art, industry-standard
payment transaction processing solutions internationally. The Payment
Solutions Group operates one of the largest ATM and POS payment switches
in Canada. In addition, it directly supports more than 30 Canadian
financial institutions through a network providing shared cash
transaction processing, ATM monitoring and 7/24 support.
About Open Solutions Inc.
Open
Solutions Inc. offers a fully featured strategic information management
product platform that integrates core data processing applications built
on a single centralized Oracle relational database, with Internet
banking, cash management, CRM/business intelligence, financial accounting
and management tools, profitability tools, wealth management, imaging,
digital documents, interactive voice response, network services, HSAs,
payments and loan origination solutions. Open Solutions’ full suite
of products and services allows banks, thrifts, credit unions and
financial services providers in the United States, Canada and internationally to better compete in today’s aggressive financial services
marketplace, and expand and tap their trusted financial relationships,
client affinity, community presence and personalized service.
For
more information about Open Solutions or its financial product line,
contact Mickey Goldwasser by email at mgoldwasser@opensolutions.com or by
phone at 860.652.3153 or via fax at 860.652.3156. Visit Open
Solutions’ Internet site at www.opensolutions.com.
Open
Solutions Inc. is a registered trademark of Open Solutions Inc. All other
company and product names may be trademarks of their respective owners.
Copyright 2008 Open Solutions Inc. All rights reserved.
About Hypercom (www.hypercom.com)
Global payment technology leader Hypercom
Corporation delivers a full suite of high security, end-to-end electronic
payment products and services. The Company's solutions address the high
security electronic transaction needs of banks and other financial
institutions, processors, large scale retailers, smaller merchants, quick
service restaurants, and users in the transportation, petroleum,
healthcare, prepaid, unattended and many other markets. Hypercom
solutions enable businesses in more than 100 countries to securely expand
their revenues and profits. With its acquisition of Thales
e-Transactions business last month, Hypercom became the second largest
provider of electronic payment solutions and services in Western Europe, and solidified its position as the third largest provider globally.
# # #
The
correct usage of the company name, Open Solutions Inc., is either
referring to it as Open Solutions Inc. or Open Solutions. Open Solutions
no longer uses the acronym of OSI to refer to the company.
Hypercom,
HBNet and MegaNAC are registered trademarks of Hypercom Corporation. All
other products or services mentioned in this document are trademarks,
service marks, registered trademarks or registered service marks of their
respective owners. This press release includes statements that may
constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements regarding
market acceptance of new products and services, capability, security,
competitiveness and performance of products and services, the
Company’s financial results, market share, and expected acquisition
results and benefits. These forward-looking statements are based on
management’s current expectations and beliefs and are subject to
risks and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements.
In particular, factors that could cause actual results to differ
materially from those in forward-looking statements include: industry, competitive and technological
changes; the loss of, and failure to replace any significant customers;
the composition, timing and size of orders from and shipments to major
customers; inventory obsolescence; market acceptance of new products and
services; the performance and security of the Company’s products
and services; compliance with industry standards, certifications and
government regulations; the performance of suppliers, contract
manufacturers and subcontractors; the ability to successfully integrate
the technologies, operations and personnel of acquired businesses in a
timely manner; the ability to obtain the expected strategic and financial
benefits from acquisitions; risks associated with international
operations and foreign currency fluctuations, the state of the U.S. and
global economies in general and other risks detailed in our filings with
the Securities and Exchange Commission,
including the Company's most recent 10-K and subsequent 10-Qs and
8-Ks. Forward-looking statements speak only as of the date made and
are not guarantees of future performance. We undertake no
obligation to publicly update or revise any forward-looking statements.
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Copyright ©2008 Open Solutions Inc. All rights
reserved.
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