STRATEGIC PARTNERS
May 19, 2002
MEMPHIS, Tenn. -- Concord EFS (NASDAQ: CEFT) has completed its acquisition of Core Data Resources, a privately-held transaction processor based in Amarillo, Texas.
According to a news release, the acquisition of Core Data is expected to have a neutral impact on Concord's earnings per share in 2002 and to be accretive to earnings per share in future years.
The addition of the 35,000 ATMs processed by Core Data, the majority of which are in retail locations and managed by ISOs, effectively doubles the number of retail ATMs processed by Concord. With the Core Data ATMs, the number of ATMs driven by Concord rises to approximately 91,000, with more than 60,000 in retail locations.
According to Edward A. Labry III, Concord president, the acquisition will strengthen Concord's position in the ATM segment and create cross-selling opportunities among its retail clients, for whom Concord provides other processing services.
