Certegy Inc. to Acquire Assets of FastFunds Financial Corporation
23 12월 2005 - 9:00PM
PR Newswire (US)
Expands Geographic Reach and Increases Native American Presence ST.
PETERSBURG, Fla., Dec. 23 /PRNewswire-FirstCall/ -- Certegy Inc.
(NYSE:CEY), a leading global provider of payment services to
financial institutions, retailers and the gaming industry, today
announced that it has entered into a definitive agreement to
acquire certain assets of FastFunds Financial Corporation
(OTC:FFFC) (BULLETIN BOARD: FFFC) and its wholly owned subsidiary
Chex Services, Inc. for approximately $14 million in cash.
FastFunds, through Chex Services, provides comprehensive cash
access services including check cashing, automated teller machine
access, and credit and debit card cash advance services to
approximately 50 casinos and gaming establishments in the United
States, Canada and the Caribbean. "This transaction further
strengthens Certegy's position in the fast growing gaming industry
and provides new growth opportunities in the Native American and
Caribbean markets," stated Renz Nichols, senior vice president and
chief operating officer of Certegy Check Services - North America.
The acquisition, which is expected to close during the first
quarter of 2006, is expected to add in excess of $15 million in
annualized revenue. About Certegy Certegy (NYSE:CEY) provides
credit and debit processing, check risk management and cash access
services, merchant processing and e-banking services to over 6,500
financial institutions, 100,000 retailers and 100 million consumers
worldwide. Headquartered in St. Petersburg, Florida, Certegy
maintains a strong global presence with operations in the United
States, United Kingdom, Ireland, France, Chile, Brazil, Australia,
New Zealand, Thailand and the Caribbean. As a leading payment
services provider, Certegy offers a comprehensive range of
transaction processing services, check risk management solutions
and integrated customer support programs that facilitate the
exchange of business and consumer payments. Certegy generated over
$1.0 billion in revenue in 2004. For more information on Certegy,
please visit http://www.certegy.com/. DATASOURCE: Certegy Inc.
CONTACT: Mary Waggoner, SVP - Investor Relations of Certegy Inc.,
+1-678-867-8004 Web site: http://www.certegy.com/
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