First Data Acquires Remaining Stake in OmniPay
May 3, 2012
First Data Corporation has acquired the remaining 30 percent of Irish payments processor OmniPay. The Atlanta-based processing giant acquired the remaining equity from FEXCO, a provider of transaction processing, foreign exchange and outsourcing services. First Data has had an equity investment in OmniPay since 2002 and took a majority equity interest in the company in August 2006.
“The OmniPay platform will be key to supporting First Data’s alliances and other strategic business units,” says John Elkins, President of First Data’s International Regions. “This transaction allows First Data to follow its strategic objective of bringing the OmniPay platform into its technology portfolio.”
First Data also announced a long-term agreement with FEXCO under which FEXCO’s existing and future partners will continue to have access to the OmniPay platform.