First Data Corporation announced Thursday it has received clearance from the Department of Justice under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for its proposed acquisition of the outstanding public shares of Paymentech, Inc..
The transaction is subject to approval by Paymentech, Inc.’s shareholders and other conditions. First Data expects the transaction to close early in the third calendar quarter.
Atlanta-based First Data Corporation is a leader in electronic payment systems. First Data and its principal operating units process the information that allows millions of consumers to pay for goods and services by credit, debit or stored card at the point of sale or over the Internet, by check or wire money. For more information about First Data, please visit the Company on the Internet at [www.firstdatacorp.com].
Paymentech, Inc., founded in 1985, provides full-service electronic payment solutions for merchants, third-party transaction processing, and total commercial card payment programs. Paymentech is a leading acquirer of bankcard transactions in the United States and a leading commercial card issuer.