A US-based new start provider of technology and outsourced services for overseas payments has acquired a specialist provider of letter of credit (L/C) documentation in the New York area.

Trade Technologies has acquired International Document Control Company (IDC). The acquisition gives IDC access to Trade Technologies' Internet-based Global Trade Management Platform (GTMP) and its network of international trade banks.

Benefits

Trade Technologies says its GTMP and professional outsourced services are enabling exporters and freight forwarders to deliver original trade documentation over the Internet to the world's major international trade banks.

This, the company says, is an efficient process that helps customers streamline their operations, eliminate discrepancies and accelerate payments.

Office expansion

Trade Technologies was founded in 1999 while IDC was established in 1991. Under the agreement, IDC will lose its identity and become known as Trade Technologies.

The acquisition of IDC brings the total number of Trade Technologies offices to eight, in Atlanta, Austin, Hong Kong, Houston, London, Los Angeles, New York and San Francisco.

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