Tampa, Fl., USA - November 23, 2010, Tampa, Fl., USA - Sterling Payment Technologies announced that Stephen D. Kane has joined the company as senior executive officer of business development, mergers and acquisitions and member of the board.
Article continues below
Mr. Kane, who has invested in Sterling, will be responsible for identifying and executing mergers, acquisitions, arranging financings and establishing a relationship with a major private equity partner for Sterling Payment, an area in which he has extensive experience.
Mr. Kane has completed more than 160 acquisitions in the last 25 years and has worked with a number of the leading private equity firms in the U.S. In addition, Mr. Kane has served on the boards of ENDATA Corporation, First Financial Management Corporation, PMT Services, NOVA Corporation, and First American Payment Systems, LP.
Mr. Kane first developed his business management and acquiring skills during his 15-year tenure at American General Life Insurance Company, the fourth largest stock life insurance company in the U.S. In 1984, he joined a small group of executives who completed a leveraged buyout of an American General technology subsidiary, NLTCS and took it public.
In 1987 Mr. Kane sold Endata to FFMC, then one of the fastest growing public companies in the U.S. and focused on the transaction processing industry. While at FFMC, Kane served in positions of increasing responsibility and ultimately became vice chairman and chief administrative officer.[break]
In 1997, Mr. Kane formed his own business-consulting firm, Stephen D. Kane Enterprises, L.L.C., where he has assisted in numerous public and private company mergers and acquisitions. In April 1999, he founded International Payment Services with GTCR Golder Rauner L.L.C., a private equity firm, and acquired NPC’s Check Service Division to form International Check Services.
Mr. Kane then served as Chairman and CEO of iShopSecure (now Verid), an identity verification and authentication solutions company serving both the credit card and financial services industries. He sold iShopSecure to C/max Capital, a Florida based private equity firm, and then along with C/max sold Verid to EMC Corporation.
In June 2003, Mr. Kane joined First American Payment Systems, LP as Senior Executive Vice President, Business Development, Mergers and Acquisitions and became a Director of the company. ■