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First Data Corp. completes acquisition of payment processing unit from Delta Singular SA
Denver-based global leader in e-commerce and payment services adds long-term Alpha Bank SA contract, expanded capabilities, and 900 employees in South-East Europe June 26, 2004 -- First Data Corp. (NYSE: FDC), a global leader in electronic commerce and payment services, today announced it has completed the acquisition of Delta Singular Outsourcing Services SA (DSOS) from Delta Singular SA [premium content] (ATHEX: DESIN), a leading technology company in Greece. Delta Singular Outsourcing Services provides payment processing services in Greece, the Middle East and the Balkans. Simultaneously, Delta Singular Outsourcing Services entered a 10-year agreement to provide payment processing and related services to its largest client, Alpha Bank SA. As the second largest commercial bank in Greece, Alpha Bank issues MasterCard cards, is the largest issuer of Visa cards and the only issuer of American Express cards in Greece. "We're excited about the addition of Delta Singular Outsourcing Services to First Data and are committed to growing the business in South-East Europe," said Ms. Pam Patsley, President of First Data International. "Delta Singular Outsourcing Services brings talented employees, solid client relationships and complementary capabilities to First Data. It is a strategic fit for First Data, enabling us to offer expanded services to our clients while creating a strong presence for us in Greece, the Middle East and the Balkans. And, Delta Singular Outsourcing Services will benefit from First Data's global presence and extensive resources." Delta Singular Outsourcing Services processes more than 1.5 million debit cards and 2 million credit cards, drives more than 1,200 ATMs and manages more than 12 million POS transactions annually. "First Data and Delta Singular Outsourcing Services are a terrific match. Delta Singular Outsourcing Services' clients will benefit from First Data's payments expertise and world-wide reach, while our capabilities and footprint in Greece helps First Data grow in this key market," said Mr. Andreas Drymiotis, Chairman of Delta Singular. "We look forward to working together to bring a wide range of payment services to our clients throughout South-East Europe and beyond." Under terms of the agreement announced on June 10, 2004, First Data acquired 100% of Delta Singular Outsourcing Services shares. Delta Singular shareholders voted to approve the acquisition on July 8, 2004. J.P. Morgan advised First Data, and Credit Suisse First Boston (CSFB) and Alpha Finance SA advised Delta Singular on this transaction. About First Data US-based First Data Corp., with corporate headquarters in Denver, Colorado, helps power the global economy. As a worldwide leader in electronic commerce and payment services, First Data provides credit, debit, smart card and stored-value card issuing and merchant transaction processing services; Internet commerce solutions; and cheque processing and verification services to financial institutions in more than 70 countries on six continents. Its Western Union and Orlandi Valuta money transfer networks include approximately 188,000 agent locations in more than 195 countries and territories. With more than 30,000 employees world-wide, First Data has offices throughout Europe, Asia Pacific, Africa, Latin America and North America. About Delta Singular SA Delta Singular is a leading group of companies in the Greek information technology (IT) sector, formed in 2001 through the merger of two of the largest IT companies in Greece, Singular SA and Delta Informatics SA. Providing state-of-the-art software products, as well as integrated systems and IT outsourcing services to the Greek private and public sectors, the Delta Singular Group aims at establishing long-term relationships with clients in order to become their strategic partner as far as IT is concerned. Singular's contribution to the combined entity is comprised of its leading market position and technical superiority in software development and distribution, as well as a strong systems integration division, Internet and e-commerce expertise, an extensive and reliable business partner network and international exposure. Delta Informatics brings invaluable experience in the credit card services market and the banking sector in general, as well as reliability and trustworthiness in services outsourcing, such as card processing, ATM switching and sharing and EDP services provision. The activities of each company were completely complementary to each other, prior to the merger. About Alpha Bank Founded in 1879, Alpha Bank SA is Greece's second-largest private commercial bank. With 445 branches, Alpha Bank is also active in South-East Europe and Cyprus. Alpha Bank offers a comprehensive range of financial services to private and corporate customers. With approximately Euro 32 billion in assets, more than EUR 2 billion in equity, Alpha Bank generated EUR 284 million in profits after tax and minorities in 2003 and nearly EUR 100 million in profits after tax and minorities in Q1 2004. Alpha Bank is listed on the Athens Exchange with a market capitalisation of about EUR 5 billion and is a constituent of the Eurotop 300 Index. Alpha Bank is the Official Bank of the Athens 2004 Olympic Games. About DSOS DSOS provides end-to-end secure payment systems and card issuer processing services for financial institutions. DSOS was created by the spin-off of Delta Singular's IT Outsourcing Services business unit into Delta Singular’s wholly owned subsidiary GRAFO, subsequently renamed to DSOS. DSOS has become a leading provider of outsourcing services to a large number of national and overseas financial institutions in Greece. These services are predominantly centered on the provision of card and payment-related functions. DSOS is one of the largest financial services outsourcing providers in Greece, with a wide range of business activities and strong inherent potential for growth. Being part of First Data is expected to enhance the breadth of career opportunities offered to DSOS employees, facilitating the attraction and retention of quality staff and helping the business exploit its full potential. Sources: First Data Corp., Delta Singular SA, Alpha Bank SA, INVgr.
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