MEMPHIS, Tenn. -- Concord EFS, Inc. (NASDAQ:CEFT) has confirmed that it is engaged in discussions with Star Systems, Inc. regarding a possible acquisition or merger. If such a deal is consummated, Star Systems, Inc. would become a wholly-owned subsidiary of Concord.
According to a Concord EFS spokesperson, no definitive agreement has been reached, and there can be no assurance that discussions between the two companies will lead to any such agreement.
A merger or acquisition would create the nation's largest EFT network.
Concord, owner of the MAC ATM network, would add more than 139,000 ATMs, more than 479,000 POS terminals and approximately 80,000,000 cardholders with an acquisition of Star.
