According to company representative Rand Pate, Paycom President Clay Andrews and Joel Hall will remain owners and controllers of Epoch/Paycom.
The three parties agreed under undisclosed terms to divide their business interests and stressed in a statement that neither of the companies' business models will change.
Paycom offices will remain in Marina del Rey, Calif., and according to Pate, ePassporte will have a representative office in Southern California, with its corporate headquarters and the majority of its business activities remaining in Curacao. EPassporte’s sales and marketing operation is located in Toronto.
Hall and Andrews, the original co-founders of Paycom.net, became partners five years ago. Mallick was an original co-founder of ePassporte.
Hall and Andrews endorsed the business announcement as being a successful transaction that gives both business entities their own separate and exclusive areas that will help foster their respective clients' needs.
"We both wish the ePassporte team the best of luck," Hall and Andrews said respectively.
Mallick left the company in February under mysterious circumstances and has maintained a low industry profile until today's announcement.
“I am pleased to be able to focus my full attention on ePassporte and the many exciting opportunities the brand has to offer consumers," Mallick said. "I look forward to working with the many associates, vendors and strategic partners much closer now. I am sure Paycom.net will continue to grow and prosper and will remain the industry leader in payment processing.”
