First Data to buy Brazil's Check Forte
26 July 2007 | 6583 views | 0
US e-payments processor First Data has signed an agreement to acquire Check Forte Processamento de Dados, a provider of payment transaction processing services based in Brazil. Financial terms of the deal were not disclosed.
Founded in 1997 Check Forte provides data capture, switching, pos terminal management and network processing services to banks for bill payment transactions initiated at off-premises merchant locations. It also provides cheque verification services directly to merchants.
Peter Harrington, president, Latin America and Canada, First Data International, says the acquisition "is a continuation of our strategy to grow our business in Brazil".
"Forte will allow us to further expand our existing presence in Brazil and provide a robust product and service offering to our clients in the country," he says. "We remain committed to leveraging the tremendous growth opportunities in Brazil's electronic payments industry."
The acquisition is subject to approval by the relevant authorities and is expected to close in the third quarter.