Securus Technologies recently announced that it had signed a “Stock Purchase Agreement” allowing it to acquire JPay Inc. A leading technology firm, JPay is credited with introducing email, educational apps, entertainment apps, and electronic payments. JPay is currently operational in over 33 state correctional systems.
Rick Smith’s Reaction To The Acquisition
Responding to the historic acquisition, Securus CEO, Rick Smith said that his company was now capable of offering any high tech or software based technology that prison facilities require to run a modern jail. Smith said that his company had acknowledged JPay as a formidable force in the correctional facilities technology products.Ryan Shapiro, the CEO of JPay further commented that his firm’s products delivered value to all concerned parties: family and friends of an inmate, the inmate, and the staff at the prison. He further stated that the aim of this acquisition was to help the development of groundbreaking products that are adopted on a large scale.Shapiro commended his team for relentlessly pursuing the company’s vision that was to come up with products that make correctional facilities safer, efficient, and that helps inmates transition into reformed citizens when they are released. He also pointed out that Securus would not lay off the management team at JPay but that they would be retained. Mr. Smith would continue to manage JPay as a subsidiary of Securus enabling JPay continue running as it does but with the added advantage of Securus’ vast resources and deep relationships. The transaction is expected to close officially towards the end of 2015.
Rick Smith’s Profile
Rick Smith is currently the CEO of Securus and is credited with his long track record in the telecom industry. Smith has spearheaded the technology that is applied in the field and has played a significant role in turning Securus into one of the finest services for making calls to correctional facilities.Rick Smith introduced video calling to Securus to ensure that people are able to see their loved ones when they call them. The firm has been using video cameras installed in prisons to make calls and Rick believes that all who are allowed to see their loved ones in prison have a better visitation experience.Since prisons are not permitted to take calls supported by any phone line, Securus is approaching them every day by forging partnerships. These correctional facilities are convinced to accept calls from the firm to make sure that they serve a large number of inmates and they are currently looking for more people to use their video call services to provide visitations with children, families, and others interested in socializing with the inmates. Rick’s vision for Securus is to see the firm expand to all prisons in America. Rick intends to utilize technology that will make it easier to reach prisons.