Warburg Pincus Acquires easycash.Investment from Global Private Equity Firm Will Drive Growth in Card-Based Payments Sector RATINGEN, Germany -- easycash, the leading German point of sale (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ) Network Service Provider, today announced that financial investor 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 global private equity firm, has reached agreement with First Data International (NYSE NYSE See: New York Stock Exchange : FDC FDC - Floppy Disk Controller ) to acquire 100% of easycash. First Data sold easycash in a competitive auction, which attracted the interest of both industrial buyers and financial investors. The completion of the transaction is subject to approval of the German Federal Cartel Office ("FCO FCO n abbr (BRIT) (= Foreign and Commonwealth Office) → Min. de AA. EE FCO n abbr (Brit) (= Foreign and Commonwealth Office) → "). The parties agreed to keep the terms of the transaction confidential. When First Data acquired GZS GZS Gospodarska Zbornica Slovenije GZS Gesellschaft Fuer Zahlungssysteme (German credit card processor) Gesellschaft fE-r Zahlungssysteme mbH in June 2006, the FCO stipulated that GZS divest easycash to a third party as part of the merger control clearance. easycash offers customised card-based payment solutions and credit card routing to a broad range of merchant customers. With more than 700 million transactions in 2005 with a total transaction volume of [euro]43 billion through 165,000 active connected POS terminals, easycash is the market leader in 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. in Germany. Commenting on the acquisition by Warburg Pincus, Siegfried HeimgEnrtner, Managing Director of easycash, said: "We are excited about the opportunity to work with Warburg Pincus, a growth investor with extensive experience in the financial technology sector. Warburg Pincus' history of building companies over the long term is an excellent fit for easycash and will enable us to continue providing the highest level of service and quality to our customers." Christoph Neizert, Managing Director of Warburg Pincus in Germany, stated: "Our in-depth expertise in the financial and business services sector was key to position Warburg Pincus as the company's preferred partner. We are convinced of easycash's great potential as the market leader in the German card-based payment sector and will pursue its growth strategy together with the experienced management team who will become shareholders." David Yates, President, First Data International, stated: "This sale represents the final step in First Data International's acquisition of GZS. We are delighted that Warburg Pincus has decided to acquire easycash providing its employees and clients with bright prospects for the future." First Data International was advised by Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/[1]) (ISIN: DE0005140008, NYSE: DB) (English: German Bank AG on this transaction. About easycash easycash has been providing card-based payment solutions at the point of sale since 1992. As Germany's leading point of sale (POS) Network Service Provider, we have built our success around providing our customers with services and products tailored to their specific needs. They have come to rely on easycash for innovative solutions, a full range of services, and stable processes in all relevant channels. The company located in Ratingen, Germany, has a total of 200 employees at two locations and operates around 165,000 active terminals. A total of more than 700 million transactions were processed nationwide in Germany in 2005, 302 million of which were electronic cash and Maestro transactions. The total process volume was 43 billion euros. Further information is available at www.easycash.de About First Data First Data Corp. is a leading provider of electronic commerce and payment solutions for businesses worldwide. Serving 4.6 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 About Warburg Pincus Warburg Pincus has been a leading private equity investor since 1971. The firm currently has approximately more than $10 billion under management and invests in a range of sectors including 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, media and telecommunications, energy, real estate healthcare, LBOs and special situations, and business services. Warburg Pincus has raised 11 private equity investment funds Noun 1. investment funds - money that is invested with an expectation of profit investment assets - anything of material value or usefulness that is owned by a person or company , which have invested approximately $24 billion in 550 companies in 30 countries. Last month, the firm closed its 12th fund, Warburg Pincus Real Estate I, L.P., a $1.2 billion global fund, which will be invested in real estate opportunities worldwide. Currently the firm is investing from an $8 billion fund, which was raised in August 2005. Since the firm's first European transaction in 1983, Warburg Pincus has invested $4.2 billion in more than 80 companies in 18 European countries. An experienced partner to entrepreneurs seeking to create and build durable companies with sustainable value Sustainable Value Sustainable Value is an approach to measure and manage sustainability performance. The concept was developed by researchers who are working today for Queen's University Belfast , the firm has offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Menlo Park, London, Frankfurt, Hong Kong, Beijing, Shanghai, Tokyo and Mumbai. For more information, please visit www.warburgpincus.com. |
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