WARWICK – ICOA Inc. has signed a letter of intent to acquire a majority interest in Tango Software Corp., a privately help Canadian company.
Tango, which designs and develops “mission-critical” software, specializes in e-commerce payment processing software, internet security and digital identity protocols, computer control systems for industrial, electrical and refrigeration applications and high-availability solutions for enterprise-scale websites.
Through its relationship with ICOA, Tango intends to develop its own internet transaction payment processing software – known as a ‘payment engine.’
ICOA will provide management and funding support to the endeavor and, according to a release, Tango engineers expect to utilize ICOA’s Authentication and Authorization Platform in order to expedite the development of the payment engine.
Terms of the deal were not revealed, but the transaction is expected to close by the end of July.