Deluxe Data International Operations
The Runcorn office started life as The Software Partnership (Norton House in Crowngate and subsequently Wingate House in 1992 on Northway) in the mid-eighties (co-founded by Nigel Walsh) but was purchased in 1994 by the American company Deluxe Electronic Payment Systems.
This in turn is part of Deluxe Corporation which is one of the largest cheque printers and debit transaction processors in the US, and a major supplier of secure card management systems.
The Software Partnership started out developing on-line banking systems for Tandem and UNIX systems.
SP/ARCHITECT & Deluxe Data Acquisition in 1994:
On July 14, 1994, the Company acquired The Software Partnership Limited of Runcorn, England. The Software Partnership Limited is a major provider of open systems software architecture for large financial institutions. The Software Partnership's sp/ARCHITECT is an electronic delivery framework which assists third-party software developers and in-house data processing departments with applications development. sp/ARCHITECT accommodates a wide variety of access devices, including smart phones, smart cards, PCs, and UNIX workstations.
The Software Partnership had revenues of L6 million in 1994. Combined with certain Deluxe Data Systems, Inc., units, The Software Partnership has been renamed Deluxe Data International Limited. sp/ARCHITECT is well designed to serve large financial institutions, and the addition of open systems architecture to its software products enhances the Company's position in electronic banking.
Deluxe Data forms eFUNDS in 1999 :
Deluxe Corporation (NYSE: DLX) first announced the formation of eFunds Corporation in April 1999, bringing together some of the strongest players in financial risk management and electronic transaction processing services-previously distinct businesses within Deluxe. In January 2000, iDLX Technology Partners, another Deluxe unit, combined with eFunds Corporation to add professional services and business process outsourcing capabilities to the new business.
Fidelity National Information Services (FIS) acquires eFUNDS in 2007 :
Fidelity National Information Services, Inc. (NYSE:FIS) announced that it has completed the acquisition of EFD/eFunds Corporation. Under the terms of the merger agreement, FIS acquired all of the outstanding shares of EFD common stock for approximately $1.8 billion in cash, or $36.50 per share.
William P. Foley, II, executive chairman of FIS, stated, “eFunds is an excellent fit for our company, and further strengthens our competitive positions in electronic processing and risk management services. FIS and EFD customers will benefit from a more comprehensive product offering and strong industry expertise.”
“eFunds’ products and services complement our existing businesses, and provide FIS with greater scale, product capability and expanded geographic reach,” added Lee A. Kennedy, president and chief executive officer for FIS. “We look forward to working with the EFD team to deliver high quality and innovative solutions to our customers.”
FIS expects to realize approximately $65 million in annual cost savings. The transaction is expected to be neutral to 2007 cash earnings per diluted share and accretive to 2008 cash earnings per diluted share, including synergies.
Within approximately one week, letters of transmittal and additional instructions regarding the process for exchanging shares for cash consideration of $36.50 per share will be mailed to EFD shareholders of record as of today’s closing date
About Fidelity National Information Services
Fidelity National Information Services, Inc. (NYSE: FIS) is a leading provider of core processing for financial institutions; card issuer and transaction processing services; mortgage loan processing and mortgage-related information products; and outsourcing services to financial institutions, retailers, and mortgage lenders. FIS has processing and technology relationships with 35 of the top 50 global banks, including nine of the top 10. Approximately 50 percent of all U.S. residential mortgages are processed using FIS software. FIS is a member of Standard and Poor's (S&P) 500(R) Index and has been ranked the number one banking service provider in the world by American Banker and the research firm Financial Insights and the number two overall financial technology provider in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS maintains a strong global presence, serving more than 7,800 financial institutions in more than 60 countries worldwide. For more information on Fidelity National Information Services, please visit www.fidelityinfoservices.com.