STRATEGIC PARTNERS
January 31, 2002
PLANO, Texas -- Electronic Data Systems has acquired TransAlliance, an EFT company, as part of an aggressive growth strategy to expand its EFT processing division. For the past five years, EDS had been a 50-50 joint venture partner in Bellevue, Wash.-based TransAlliance, along with 21 financial institutions.
TransAlliance provides EFT services for ATMs and bank transaction processing in roughly 13 Western states. For EDS, the TransAlliance deal includes the NorthWest Exchange ATM network and the Accel debit network and will give EDS approximately 475 TransAlliance customers and network members. More than 100 TransAlliance employees will join EDS as part of the agreement. Daily operations for former TransAlliance clients and a data center will remain in Bellevue, Wash. Support offices will remain in California.
Terms of the deal were not disclosed.
