NEW BERLIN, Wis.–(BUSINESS WIRE)–International Monetary Systems, Ltd. (OTCBB:INLM), a worldwide leader in business-to-business barter services, today announced that it has acquired the assets and client base of Synergy Trade Exchange, a barter network serving clients in Louisville, KY and Nashville, TN.
Since International Monetary Systems has already been operating in Louisville, this acquisition has eliminated a competitor and will nearly triple the firm’s client base in that area.
In discussing the transaction, Don Mardak, CEO of IMS, commented: “Combining the Synergy Trade Exchange members with ours will make International Monetary Systems the dominant barter system operating in Northern Kentucky. In addition, we are getting a base of clients that we can build upon in Nashville, TN, thus opening up that dynamic market to us. Going forward, we believe that we can implement the IMS organic-growth strategy in both of these markets, and that will lead to increased revenue and future profitability.”
This transaction represents IMS’ third acquisition in the past six weeks.
About International Monetary Systems
Founded in 1985, International Monetary Systems (IMS) serves 17,000 customers representing 25,000 cardholders in 48 U.S. markets. Based in New Berlin, Wis., IMS is one of the largest publicly traded barter companies in the world and is continually expanding its exchange locations. The company’s proprietary transaction network enables businesses and individuals to trade goods and services throughout North America. Using an electronic currency known as trade dollars, IMS exchanges allow companies to create cost savings and to improve operations by taking advantage of barter opportunities in their business models. Managed by seasoned industry veterans, IMS is a recognized member of the National Association of Trade Exchanges (NATE) and the International Reciprocal Trade Association (IRTA). Further information can be obtained at the company’s Web site at: www.internationalmonetary.com.