Printer Friendly

DELUXE ANNOUNCES JOINT VENTURE WITH U.K. FORMS PRINTER

 DELUXE ANNOUNCES JOINT VENTURE WITH U.K. FORMS PRINTER
 ST. PAUL, Minn., Sept. 2 /PRNewswire/ -- Deluxe Corporation


(NYSE: DLX) announced today an agreement with Pegasus Group PLC to acquire 25 percent of Stockforms Limited, a wholly owned subsidiary of Pegasus Group PLC, which markets all of the computer forms and supplies of Pegasus.
 Pegasus is based in the U.K. and develops and markets accounting software in addition to selling business forms through its Stockforms subsidiary. Deluxe will purchase 25 percent of Stockforms for $3.4 million in cash with an option to purchase the remaining 75 percent interest in Stockforms at any time between July 31, 1993, and Dec. 31, 1994.
 "Our key objective for this joint venture is to gain experience in marketing forms in the U.K.," said Harold V. Haverty, chairman and CEO of Deluxe. "We believe Pegasus will be an excellent partner as we evaluate markets outside the U.S."
 The Pegasus dealer network in the U.K. numbers more than 600 outlets selected for their skills in providing business solutions. It is estimated that Pegasus has achieved a 40 percent share of the PC-based accounting software market in the U.K.
 Deluxe Corporation is an industry leader in providing products and services to the financial payment systems industry. The company is the nation's largest check printer and also provides electronic funds transfer (EFT) processing services and software, ATM card services, account verification services and sales development services to financial institutions. The company also provides check authorization services to retailers. Deluxe's Business Systems Division produces a variety of computer and business forms and related products for small businesses and professional practices. The company's Consumer Speciality Products Division markets greeting cards, gift wrap, stationery and a variety of related products to households.
 -0- 9/2/92
 /CONTACT: Stuart Alexander, vice president, Corporate Public Relations, 612-483-7358 or Charles M. Osborne, senior vice president and chief financial officer, 612-483-7355/
 (DLX) CO: Deluxe Corporation ST: Minnesota IN: SU: JVN


DS -- MN020 -- 6064 09/02/92 16:22 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 2, 1992
Words:339
Previous Article:AMOCO ROLLS OUT IMPROVED PREMIUM GASOLINE WITH LOWER EMISSIONS, LESS DEPOSIT-FORMING IMPURITIES
Next Article:- ENTERTAINET - TO CITY AND ENTERTAINMENT EDITORS:
Topics:


Related Articles
DELUXE NAMES NEW CHAIRMAN
R.R. DONNELLEY AND G.A. PINDAR FORM FINANCIAL PRINTING JOINT VENTURE IN THE UNITED KINGDOM
DELUXE TO COMPLETE PURCHASE OF U.K. FORMS SUPPLIER
DELUXE TO MARKET WATER-WASHABLE INK ON LIMITED BASIS
DELUXE COMPLETES PURCHASE OF THE SOFTWARE PARTNERSHIP AND ANNOUNCES AUSTRALIAN JOINT VENTURE
DELUXE REPORTS SECOND QUARTER SALES AND EARNINGS
DELUXE TO COMBAT CHECK FRAUD
DELUXE SUBSIDIARY NRC FORMS JOINT VENTURE WITH U.K.'S LARGEST COLLECTIONS AGENCY, OPENS EUROPEAN COLLECTIONS CENTER
Deluxe To Form Joint Venture With India's HCL Corp.
World's Easiest Software for OS/2 Warp Ships Today As Part of Deluxe Corporation and IBM Joint Marketing Agreement

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters