Atlanta-based First Data Corp. has acquired a 25% equity interest in Irish financial services and payments company Fexco. Financial terms of the transaction were not disclosed.
When the transaction closes, the Irish company will be expected to provide a range of multi-currency payments processing services to First Data. Fexco is also developing a new e-commerce payments platform, scheduled to be rolled out in Spring 2001.
Charlie Fote, First Data president and chief operating officer, says: "Fexco's strong experience in providing multi-currency payment services will complement First Data's delivery of payment processing services in Europe, but also in the US and beyond."