In July 2015, Securus Technologies announced that it had signed a definitive Stock Purchase Agreement allowing it to acquire JPay Inc., a technology company responsible for introducing electronic payments, email and other educational and entertainment apps to the corrections facility space. At the time of acquisition, JPay operated in over 33 state prison systems.
Speaking about the acquisition, Rick Smith, its chief executive officer, said that the transaction thrust Securus into the fastest growing segments in corrections, which include inmate tablets, emails, and payments. He noted that after announcing the intended purchase in April 2015, the company had gone ahead and secured the debt and equity funding and the necessary approvals from the relevant bodies before closing the deal.
The transaction propelled Securus Technologies into a position that enables it to offer high technology and software-based services needed by correctional agencies to operate a modern jail or prison efficiently. The transaction came at the most opportune time allowing the two companies to combine their products. Smith notes that the realization that JPay was an innovative force in the industry, which had exhibited a continued success, made the acquisition necessary.
In addition to serving over 1.2 million inmates across North America, Securus currently serves more than 2, 450 law enforcement, public safety and correction agencies. In October 2016, the facility published some selected comments commending them on the use of technology to prevent and solve crimes.
While talking about the same, Rick Smith noted that on average, they develop a new product or service every week to help law enforcement and correction officials solve and prevent crimes. This has seen them receive thousands of emails and letters regarding what they build and how what they do helps in keeping society, inmates, their families and parolees safe.