VALLEY COTTAGE, N.Y., Nov. 2 /PRNewswire/ -- Klik Technologies Corp. today finalized the acquisition of Cash Management Services (CMS) of Boston, MA, one of the oldest and most trusted names in receivables processing in New England.

"Our CMS clients will enjoy the benefit of combined scale, complementary product capabilities and industry expertise of these two companies," stated Jonathan Gustave, Klik's CEO. "This transaction provides Klik with a Boston presence and at the same time solidifies our Southeast operations by adding an Atlanta facility to our now 9 site nationwide remittance processing network. The two companies' mutual strengths in serving the receivables processing needs of clients in the public sector, higher education, not-for-profit and real estate industries can now be leveraged with Klik's existing complete receivables payments processing product suite and leading platform infrastructure."

Jeff Goff, President of CMS, said, "The outsourced receivables processing market is increasingly competitive. This combination allows us to better serve our clients with additional products, strong processing infrastructure and the support team that Klik brings to the table. Klik has earned its leadership in the remittance processing industry by automating many of the most complex payment types and processing steps that even the largest lockbox processors have struggled to solve.

"Because Klik's innovative and flexible lockbox platform design technology has consistently created truly client-centric solutions, this proved to be an ideal partnership. Their competitive creativity and unique platform keeps costs low and quality high. This combination will generate increased value for our customers."

Mr. Goff will join the Klik Technologies management team as Vice President, New England Market.

About Klik Technologies

Klik Technologies(TM) Corp. (www.klik.com) Klik is a full-service outsource payment processor. Klik's state-of-the-art proprietary platform software, best-of-breed hardware and customized technology expedites payment processing and delivers real-time information through an Internet portal. Klik services are provided directly to end user clients or through contracted private label bank relationships. Klik's product suite encompasses Retail Lockbox, Whole-tail Lockbox, Wholesale Lockbox, ACH services, remote deposit processing, on-line bill payment consolidation, electronic bill payment and presentment and invoice print services. The company's accelerated receivables framework assists clients in shortening their revenue recognition cycle.

Klik, Klik Technologies and the Klik logo are registered trademarks of Klik Technologies Corp. All Klik product names and other brand names mentioned herein are trademarks or registered trademarks of Klik Technologies Corp. All other company and product names may be trademarks or service marks of their respective owners.

SOURCE Klik Technologies Corp.