Message #24 From:
Stock News Bot Date: September 7, 2006 08:13:00 AM
PPDA News Pipeline Data Appoints New Chief Financial Officer
QUINCY, Mass.--(BUSINESS WIRE)--Sept. 7, 2006--Merchant credit card payment solutions provider Pipeline Data Inc. (OTCBB:PPDA) announced today that it has named Curtis James as its chief financial officer. Current chief financial officer, Donald Gruneisen, will remain as the company's treasurer and assume the position of its controller.
Mr. James joins Pipeline Data from Fidelity National Information Services, Inc. (NYSE:FIS), where he served as the vice president of corporate finance. Fidelity National Information Services is a leading provider of core financial institution processing, card issuer and transaction processing services. Prior to joining Fidelity National Information Services, Mr. James was senior vice president of finance and accounting for Lender's Service, Inc., a $155 million processor of mortgage services.
MacAllister Smith, Pipeline's president and chief executive officer, commented, "We are grateful to Don Gruneisen for the large contribution he has made to Pipeline's success. I am confident he will bring the same level of dedication to his new position." Smith continued, "We see the potential for tremendous growth in our company. The addition of Mr. James to our management team gives us a critical set of skills necessary to help us pursue and achieve our growth objectives."
Pipeline Data Inc. provides value-added credit card transaction processing services for merchants in three key areas: wireless mobile payment, e-commerce solutions and retail merchant payment. Pipeline Data services more than 40,000 accounts.
Safe Harbor Statement:
The information provided for in this Press Release contains forward-looking statements that involve risks and uncertainties more fully set forth in the Company's filing. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements relating to uncertainties that could affect performance and results of the Company in the future and, accordingly, such performance and results may materially differ from those expressed or implied in any forward-looking statements made by or on behalf of the Company. These risks and uncertainties include, but are not limited to those relating to the Company's growth strategy, customer concentration, outstanding indebtedness, seasonality, expansion and other activities of competitors, changes in federal or state laws and the administration of such laws, protection of the securities markets and other risks detailed in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. Statements made in this Press Release that are not historical facts are forward-looking statements that are subject to the "safe harbor" created by the Private Securities Litigation Reform Act of 1995. The Company's actual results could differ significantly from those discussed and/or implied herein.
