Denver, United States
First Data Corp. (NYSE: FDC), a global leader in electronic commerce payments services, today announced that it completed its acquisition of Peace Software, a leading Customer Information System (CIS) product company that develops advanced software for managing utility billing and customer care. Financial terms were not disclosed.
This strategic acquisition provides First Data with a proven, best-in-class global CIS platform and related products and services. The Peace software will serve as the cornerstone of First Data's comprehensive integrated solution suite for the global utilities market.
"The response we've received from the marketplace since we announced the agreement in July has been overwhelmingly positive," said Sebastian J. Gunningham, president, First Data Utilities. "We believe that the joining of our two companies will result in a compelling value proposition to the worldwide utilities market. We welcome the investment in the Peace CIS and we are excited to move forward with the delivery of innovative and flexible products and services to our clients."
About First Data
First Data Corp. (NYSE: FDC) is a leading provider of electronic commerce and payment solutions for businesses and consumers worldwide. Serving 4.6 million merchant locations, 1,700 card issuers and millions of consumers, First Data powers the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services using virtually any form of payment. The company's portfolio of services and solutions includes credit, debit, private-label, gift and other prepaid card issuing and merchant transaction processing services; money transfer services; money orders; fraud protection and authentication solutions; check guarantee and verification services through TeleCheck; as well as Internet commerce and mobile solutions. Western Union, together with its affiliates Orlandi Valuta and Vigo, are leaders in global money transfer, providing people with fast, reliable and convenient ways to send money around the world, pay bills and purchase money orders through a network of over 270,000 agent locations in more than 200 countries and territories. The company's STAR Network offers PIN-secured debit acceptance at 1.9 million ATM and retail locations. For more information, visit www.firstdata.com.
About Peace Software
Peace is the leading utility CIS software developer. Peace(TM), the company's flagship software product, is installed at major utilities in 35 regulated and competitive energy markets for billing and customer relationship management of millions of electricity, gas and water customers. Peace has clients in Europe, North America and Asia-Pacific, ranging from entrepreneurial new entrant energy retailers to the largest dual-fuel utilities with many millions of consumers and multiple market operations. For more information, visit www.peace.com.
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CONTACT: First Data Corp. Media: Donna Pennington 402-222-6178 donna.pennington@firstdatacorp.com Investors: Gary Kohn 303-967-8276 gary.kohn@firstdata.com or Peace Software Sally Grey +64-27-576-3101 Sally.grey@peace.com
CONTACT: First Data Corp. Media: Donna Pennington 402-222-6178 donna.pennington@firstdatacorp.com Investors: Gary Kohn 303-967-8276 gary.kohn@firstdata.com or Peace Software Sally Grey +64-27-576-3101 Sally.grey@peace.com , ,
Source: Business Wire (Business Wire India)