News

Fifth Third acquires Card Management Corp.

January 27, 2006

CINCINNATI - Fifth Third Processing Solutions announced in a news release its acquisition of Card Management Corp.

CMC, headquartered in Evansville, Ind., provides services to financial institutions and retailers for credit card, debit card, merchant and private-label programs.

The company will continue to operate under the CMC name, and operations are expected to remain at CMC's existing facilities in Evansville and Tucson, Ariz.

"CMC has created an excellent servicing environment," said Charles Drucker, president of Fifth Third Processing Solutions. "This investment gives us an opportunity to partner with a rapidly growing and innovative enterprise and provide more robust products and services to partners of both companies."

Terms of the transaction were not disclosed.