American Express finalizes acquisition of Harbor Payments
New York, January 12, 2007 – American Express has completed its acquisition of Harbor Payments, Inc. closing the deal on December 31, following regulatory approval. Terms were not disclosed.
The move supports American Express’ strategy to offer a suite of solutions, named S2SSM, to enable companies to automate their “source-to-settle” processes – by integrating steps in their entire electronic purchasing cycle. S2S will help companies improve the efficiency of their supply chain, reduce processing costs and increase control and compliance throughout the purchasing process.
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Atlanta, GA, December 18, 2006 – Harbor Payments, the leading provider of next-generation electronic billing, invoicing and payments management solutions, announced today that Mohawk Industries, Inc. (NYSE: MHK), the world’s leading producer and distributor of carpet, rugs, ceramic tile, wood and laminate flooring, has licensed the Invoice Harbor™ platform for automated accounts receivable processing.
New York, December 5, 2006 – Combining the strength of its industry-leading commercial card business and its procurement capabilities, American Express announced today that it is launching a suite of innovative source-to-settle electronic solutions named S2SSM designed to help companies drive greater levels of cost savings while improving control and compliance requirements.
To support this business expansion, American Express has signed an agreement to acquire Harbor Payments, an Atlanta-based technology provider that delivers industry-leading e-invoice and e-payment capabilities.
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