The Company installs and services kiosks, software, and logistics related to payment systems within various county and municipal jails across the United States. Functions carried out by these programs include:
- Bail processing
- Cash management of those who are arrested
- Management of commissary accounts
The Company has made substantial investments in this core business and is now positioned to benefit from its potential by pursuing a sale to a partner who can leverage the assets to drive a clear competitive advantage in the market and provide the best-in-class service to its customers.
Price: $8.5 million for asset sale of contracts, hardware, software and money transfer solutions.
Financial overview: Revenue $3.3 million; EBITDA $1.2 million