NEW YORK-U.S. Wireless Data announced it sold its NXT Corp. subsidiary, which provides data services and landline-based connectivity for credit-card transaction processing, to Merchant-Link L.L.C. for $5 million in cash.
“The sale of NXT provides us with an immediate, non-dilutive infusion of capital,” said Dean Leavitt, chairman and chief executive officer of U.S. Wireless Data. “This sale allows us to focus completely on our wireless initiatives in vending, transportation, quick service restaurants, ATMs, and other industries that need the speed, mobility, and flexibility of our Synapse technology.”
USWD uses wireless technology to improve transport, data translation, and value-added processing for financial transactions.
