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BANCTEC ACQUIRES LPA, A PROVIDER OF ELECTRONIC PAYMENT SYSTEM SOFTWARE

 DALLAS, Aug. 23 /PRNewswire/ -- BancTec, Inc. (NASDAQ: BTEC) announced today that it has acquired LeRoux, Pitts & Associates, Inc. (LPA) from NYNEX Computer Services Company. LPA, with annual revenues of approximately $4 million, develops, sells and maintains host and point-of-sale electronic payment system software for financial service institutions, retailers and grocery wholesalers. The Clearwater, Fla.- based company was established in 1978 and has been a subsidiary of NYNEX Computer Services Company since 1990. Under the terms of the agreement, BancTec will purchase the business and related assets of LPA.
 LPA's electronic payment software solutions include applications for Tandem fault tolerant computers, UNIX-based personal computer (PC) and file server systems and VeriFone point-of-sale (POS) terminals. LPA also interfaces to IBM, NCR and ICL cash registers and a variety of other suppliers of in-store POS systems. LPA utilizes a direct sales force to sell its POS software products directly to financial institutions, retailers and third-party processors and is one of the leading electronic payment application software suppliers in the United States, supporting an estimated 150,000 point-of-sale devices.
 LPA's products enable retailers to process electronic transactions at various locations, including: in-lane, in-store, main office or the electronic payment "switch". The company's flagship product, Total Payment System (TPS), provides a variety of point-of-sale services used by banks, rail transit systems, restaurants, hotels and third-party processors. A key feature of TPS is its modular structure that allows clients to select a combination of options to build a customized payment transaction processing system. The Host Capture Subsystem serves the on-line authorization and data capture environments required by retailers. The Terminal Capture Subsystem is an ideal solution for businesses such as hotels and restaurants that often adjust transaction amounts after the initial authorization. The Batch Authorization and Capture Subsystem is especially effective for mail and telephone order merchants who accept od?ers throughout the day, and submit transaction files for authorization before shipping merchandise.
 LPA's newest products are based upon an open systems, UNIX architecture. Semaphore is designed specifically for in-store payment terminals and controllers. With Semaphore, retailers can process debit card, credit card and other types of electronic payments immediately at the point of sale, enabling them to offer their customers a wide range of payment options. The product also provides "returned check entry" so that credit files can be updated electronically at the store level. Mainsail is a complementary software product for "main office" host payment processing which enables retailers to centralize payment processing and check authorization for all their stores. Mainsail allows retailers to maintain a central on-line customer database for gathering marketing information and for immediate credit risk identification, dramatically reducing losses on bad checks.
 Other products include StorePoll, a centralized data collection system used to exchange data with a variety of off-line terminals and electronic cash registers. StorePoll collects payment transaction information, sales and inventory data, time and attendance data, and ticketing information. StorePoll also distributes "invalid debit/credit card" files and other data to remote terminals, provides centralized control over remote terminals, and enables users to reduce network costs by polling in off-peak hours.
 Grahame N. Clark Jr., BancTec's chairman and chief executive officer, states, "BancTec is a leading provider of document-based financial transaction processing systems. We currently provide payment processing solutions for many of the world's largest financial service providers and retailers. The purchase of LPA will enable us to enter the electronic payment/point-of-sale market, which we feel has tremendous potential. LPA's industry knowledge and excellent products give us a platform upon which we can add additional electronic payment- based products."
 BancTec, Inc. is a leading worldwide provider of integrated financial document processing systems, application software and support services. BancTec develops turn-key document image processing and data capture solutions for the banking, financial services, insurance, government, utility, telecommunications and retail industries. The company also designs and manufactures document processing equipment for OEM customers and provides third-party maintenance and support services for LANs and personal computers.
 -0- 8/23/93
 /CONTACT: Gary Robinson, senior vice president and chief financial officer of BancTec, Inc., 214-450-7753/
 (BTEC)


CO: BancTec, Inc.; LeRoux, Pitts & Associates, Inc. ST: Texas, Florida IN: CPR SU: TNM

TS -- NY012 -- 4954 08/23/93 09:34 EDT
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Publication:PR Newswire
Date:Aug 23, 1993
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