DENVER, June 21 /PRNewswire-FirstCall/ -- First Data Corp. (NYSE: FDC), a
global leader in electronic commerce and payment services, today announced
that it has finalized its purchase of E Commerce Group Products Inc. (ECG).
ECG, an electronic bill payment company based in New York, will operate as
part of the Western Union family of businesses. Financial terms of the deal
were not disclosed.
The addition of ECG and its Speedpay service complements existing bill
payment services within Western Union's Commercial Services division and will
allow Western Union to expand into new market segments. The acquisition of
ECG is consistent with First Data's and Western Union's goal of expanding
through strategic acquisition.
About Western Union Financial Services, Inc. and First Data
Western Union Financial Services, Inc., a subsidiary of First Data Corp.
(NYSE: FDC), is an international leader in consumer money transfer services.
Consumers can quickly, safely and reliably pay bills and transfer money around
the globe using the company's proprietary money transfer network. Western
Union and its subsidiary, Orlandi Valuta, together make up one of the world's
largest money transfer networks with a total of approximately 124,000 Agent
locations in more than 185 countries and territories. Famous for its
pioneering telegraph service, the original Western Union dates back to
1851 and introduced electronic money transfer service in 1871. For more
information, please visit the company's Web site at http://www.westernunion.com .
First Data Corp., with global headquarters in Denver, helps power the
global economy. Serving approximately 2.8 million merchant locations,
1,400 card issuers and millions of consumers, First Data makes it easy, fast
and secure for people and businesses to buy goods and services, using
virtually any form of payment: credit, debit, smart card, stored-value card or
check at the point-of-sale, over the Internet or by money transfer. For more
information, please visit the company's Web site at http://www.firstdata.com .
About E Commerce Group Products Inc.
E Commerce Group Products Inc. was founded in 1989, and provides a
comprehensive suite of e-commerce products, electronic bill payment systems,
integration services and bankruptcy recovery software. The New York-based
company's Speedpay(R) software provides custom-tailored electronic payment
applications for many of the country's leading financial services companies,
retailers and utilities. For more information about E Commerce Group
Products, please visit http://www.ecommercegroup.com .
SOURCE First Data Corp.
 back to top
Related links:
http://www.ecommercegroup.com
http://www.firstdata.com
Company News On-Call:
http://www.prnewswire.com/comp/042093.html
CONTACT:
Wendy Carver Herbert of Western Union
Financial Services, Inc., +1-303-967-6416,
wendy.carver@firstdatacorp.com
|
