Richard A. Smith is the Chairman and CEO of Securus Technologies. His company’s one of the largest providers of assistance to public service agencies. Based Dallas, TX, Securus works with law enforcement to keep prisons and the surrounding communities safe.
When Smith became CEO, he led the company to many successes. He’s turned the company into a strong investment, for both investors and communities. That’s proven by the number of appreciation letters and emails the company gets on a regular basis.
A Stock Purchase Agreement allows companies to acquire other companies easily. Without one, things can turn into a battle fairly quickly, which may be more detrimental the both companies’ stocks than beneficial. Recently, Securus Technologies acquired JPay Inc. by using a definitive Stock Purchase Agreement. According to Wikipedia
Securus is one of the largest corporations in the corrections industry. They’d been watching JPay’s climb to the top since JPay introduced electronic payments, emails, and related apps to the industry. That one move allowed JPay to create an entirely new segment of the corrections space.
Now, Rick Smith Securus hopes to dominate this new industry with JPay’s help. The segment is the fastest growing in the industry, which means other companies are catching on. It’s only a matter of time before the competition begins challenging Securus and JPay, which is why the two agreed to combine their efforts.
Now that both teams are working together, Rick Smith, CEO of Securus Technologies, expects both companies to produce the best products and offer the best services in the entire industry. He hopes that none of his competition will even have the resources to come close to challenging the duo.
According to JPay CEO Ryan Shapiro, JPay is just as excited by the acquisition. His team’s relentless pursuit of the company’s mission created numerous industry-changing products. Now, with a larger corporation behind them, he hopes his team can produce groundbreaking products much faster than before. Read more at securus.net about Rick Smith Securus.
As part of the acquisition, Securus acknowledged JPay’s innovation, allowing the company to remain as it was. Rather than merge, JPay is considered a wholly owned subsidiary, which allows the company to continue operating as it normally does. Now, they have access to Securus’ network and resources. They also have the added benefit of being financially supported by one of the largest companies in the business.