Atlanta-based InfiCorp Holdings, headed by well-known industry executive Jerry Craft, is being sold to First National of Nebraska. Financial terms of the deal between the bank and the privately held credit card portfolio management company were not disclosed. However, the transaction is expected to close in early July. InfiCorp Holdings includes subsidiaries: Infistar, InfiBank, InfiLink and InfiCU. The firm currently manages $400 million in loans. First National of Nebraska currently has $3,050,875,000 in credit card receivables and 3,382,984 accounts as of Mar. 31, according to CardData ([www.carddata.com]). Jerry Craft will continue as CEO of InfiCorp, which will operate in Atlanta as a wholly owned subsidiary of First National. InfiCorp has approximately 200 employees. First National said this morning the acquisition of InfiCorp will be complementary to its credit card business, providing a solid platform to establish additional strategic credit card alliances with card issuers throughout the country. Craft founded InfiCorp in 1994 as Card Issuer Program Management company while serving as a First Data division president. He formerly served as Wachovia’s top credit card executive overseeing its rapid portfolio expansion between 1982 and 1993.