National Data Corporation and Data Broadcast Corporation (Nasdaq: DBCC)(DBCC), today announced a definitive agreement under which NDC will acquire substantially all of the assets of DBCC’s check services business, CheckRite.
CheckRite, based in Salt Lake City, is a leading provider of check services. It operates throughout the United States, primarily in Western and Midwestern markets. It currently serves approximately 35,000 merchants.
“This transaction complements our existing check services business,” said Tom Dunn, NDC’s general manager of Integrated Payment Systems. “It expands our range of services and product offerings, as well as our geographic reach, in a business that continues to perform very well for us.”
Mike Egan, executive vice president of CheckRite, stated, “This continues our long-standing relationship with NDC and will expand the products and services that we can offer our customers.”
CheckRite will operate within NDC’s Payment Systems line of business and continue to be based in Salt Lake City.
The acquisition is subject to the expiration of the waiting period under the Hart-Scott-Rodino Anti-Trust Improvements Act and other usual closing conditions.
National Data Corporation is a leading provider of payment systems solutions and health information services that add value to its customers’ operations.
When used in this report, press releases and elsewhere by management of National Data Corporation, from time to time, the words “believes,” “anticipates,” “expects” and similar expressions are intended to identify forward-looking statements concerning the Company’s operations, economic performance and financial condition, including in particular, the likelihood of the Company’s success in developing and expanding its business. These statements are based on a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company, and reflect future business decisions which are subject to change. A variety of factors could cause actual results to differ materially from those anticipated in the Company’s forward-looking statements, some of which include competition in the market for the Company’s services, continued expansion of the Company’s product and service offerings and other risk factors that are discussed from time to time in the Company’s Securities and Exchange Commission (“SEC”) reports and other filings. Readers are cautioned not to place undue reliance on these forward- looking statements, which speak only as of the date hereof. The Company undertakes no obligations to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or thereof, as the case may be, or to reflect the occurrence of unanticipated events.Details