Lane Berry Advises FundsXpress on Its Sale to First Data Corp.FundsXpress, a premier provider of online banking and bill payment services, to join electronic commerce and payments leader First Data BOSTON -- Lane, Berry & Co. International, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control announced today that it served as exclusive financial adviser to FundsXpress, a premier provider of online banking and bill payment services for consumers and small businesses and a portfolio company of Warburg Pincus Warburg Pincus is a private equity firm with offices in the United States, Europe and Asia. It has been a leading private equity investor since 1971. The firm currently has approximately $14 billion under management, and invests in a range of industries including information and , The Beacon Group and Texas Growth Fund, with respect to its sale to First Data Corp. (NYSE NYSE See: New York Stock Exchange : FDC FDC - Floppy Disk Controller ), a leading provider of electronic commerce and payment solutions for businesses worldwide. Terms of the transaction were not disclosed. FundsXpress has more than 500 financial institution customers, consisting of community banks and credit unions, and First Data currently serves thousands of similar financial institutions nationwide. The complementary capabilities of First Data and FundsXpress will result in a broad and robust suite of products for secure electronic commerce and Internet Banking transactions. "As part of First Data, we'll have the ability to add significant value for our customers through the integration with First Data's extensive suite of products and services. We'll further improve and extend our online banking offering through First Data's expertise in enabling virtually every type of electronic transaction anywhere in the world, any time -- reliably and securely," said Brent Warrington, president and chief executive officer of FundsXpress. "The combination of our two companies escalates our strategic position as being the company that will redefine the way secure online transactions are conducted." Jim Bunn James "Jim" Bunn (b. December 12, 1956) in McMinnville, Oregon, is a politician from Oregon, United States. Bunn graduated from Dayton High School, and earned a bachelor's degree from Northwestern Nazarene College in 1979. , Managing Director and Head of Transaction Processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. and Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Technology investment banking for Lane Berry, said: "FundsXpress is a premier provider of Internet banking, bill payment, cash management and security products for banks and credit unions nationwide. We are gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. that the FundsXpress management team and their investors, Warburg Pincus, The Beacon Group and Texas Growth Fund, entrusted us with executing such an important transaction." About Lane Berry & Co. International, LLC Lane, Berry & Co. International, LLC provides investment banking services to corporations, their Boards and Special Committees of Boards and shareholders on matters relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc mergers, acquisitions, divestitures, debt and equity financings, debt restructurings, recapitalizations and corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. issues. Lane Berry offers sophisticated, objective advice and transaction execution based upon the extensive experience of its senior investment bankers. For more information about Lane Berry's services, transactions and experience, visit www.laneberry.com. About FundsXpress FundsXpress is a premier provider of Internet-based financial services and products for banks and credit unions nationwide. Through a state-of-the-art data center the company delivers a secure, scalable and proven financial product suite. FundsXpress' products include retail and commercial Internet banking, cash management, automated lending, and dynamic Web sites. FundsXpress clients benefit from the company's value-added compliance support, customer service and leading adoption rates. For more information, please visit the company at www.FundsXpress.com. About First Data Corp. First Data Corp. (NYSE: FDC) is a leading provider of electronic commerce and payment solutions for businesses worldwide. Serving 4.9 million merchant locations, 1,900 card issuers and their customers, First Data powers the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. using virtually any form of payment. The company's portfolio of services and solutions includes merchant transaction processing services; credit, debit, private-label, gift, payroll and other prepaid card offerings; fraud protection and authentication solutions; electronic check acceptance services through TeleCheck; as well as Internet commerce and mobile payment solutions. The company's STAR Network offers PIN-secured debit acceptance at 2 million ATM and retail locations. For more information, visit www.firstdata.com. |
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