NEW YORK & ATLANTA--(BUSINESS WIRE)--Cynergy Data has named Afshin Yazdian as its new Chief Executive Officer. Cynergy also announced that current CEO Kim Fitzsimmons will remain with the Company as a member of the Board of Directors, and take on a strategic role with Comvest Partners, Cynergy’s Private Equity investor. These changes highlight Cynergy’s renewed focus on growth and expansion of the Company.
“Cynergy is now a proud leader in the industry, with systems and products that are designed for the next era of merchant processing,” said Fitzsimmons. “I am so excited about everything that we have worked hard to build over the past few years, and believe the Company is now well positioned for the future. I welcome the opportunity to work with Afshin and believe that he is the perfect leader for this Company with our focused commitment on both organic growth and acquisitions. I know Cynergy will thrive with Afshin’s experience and vision at the helm.”
Yazdian has been charged with taking over a Company that is poised for accelerated growth. “I have no doubt that with our people, our products and our systems, Cynergy will become one of the dominant players in the next phase of the payment processing industry,” said Yazdian. “We will grow by being creative with our products, providing excellent support to our partners, our merchants and our sales channels, and by focusing on the future not the past.” Yazdian added: “Kim and our management team have put the Company in a position to allow us to focus on growth, both organically, with the expansion of our various sales programs and products, and through acquisitions, with the financial support of our equity sponsor Comvest. It is my goal to build upon their efforts and elevate the Company to new levels."
“We are excited to have Afshin on board, and look forward to supporting the Company’s acquisition strategy as the payment processing industry continues to consolidate,” added Michael Falk, Managing Partner of Comvest Partners. “Cynergy has the leadership, the infrastructure and the capital necessary to efficiently integrate strategic acquisitions.”
Under Fitzsimmons’ leadership, Cynergy has made great strides in strengthening its relationship with its customers, building upon its strong management team to establish the industry’s most robust infrastructure, and positioning the Company to enter a new phase of product expansion and acquisition. Cynergy Data has seen an accelerated growth in new merchant applications and continues to successfully expand its partnerships.
Afshin Yazdian joins Cynergy with over 14 years of experience in the merchant processing industry, having served most recently as President of Boca Raton, FL based TouchSuite. Previously, Yazdian was Executive Vice President & General Counsel for iPayment, Inc. from its founding in 2001, where he was a key member of the Company’s management team, involved with various aspects of the Company’s operations and overall strategy. Prior to his role at iPayment, Mr. Yazdian served as General Counsel & VP of Business Development and Mergers & Acquisitions for eConception, a Nashville, TN based venture fund. Mr. Yazdian received a BBA from Emory University and a JD from The University of Miami.
About Cynergy Data www.cynergydata.com
Cynergy Data, with offices in New York City, Atlanta, GA and Melville, NY, is one of the foremost payment services providers in the United States. Cynergy is a full service ISO, focused on providing the support and services the Company’s partners need to operate their business, in turn allowing them to focus on selling in the marketplace. Using its industry lauded, portfolio management tool VIMAS, Cynergy is able to deliver rapid turnaround in application approval, robust processing services and information,compliance services, residual accounting and highly rated, experienced customer care. For more information about Cynergy, or to find out how to partner with us, please visit us at www.cynergydata.com.
