Pipeline Data buys Valadata
11 July 2006 | 1965 views | 0
Source: Pipeline Data
Pipeline Data Inc. (OTCBB:PPDA; Pipeline) announced today that it has acquired Valadata, Inc., a retail merchant credit card processing provider catering primarily to the restaurant industry.
Pipeline also announced today that it has acquired a separate retail portfolio. Management expects the acquisitions to add 8,500 merchant accounts to Pipeline's existing portfolio, resulting in approximately $190,000 in additional monthly cash flow.
The purchase price for the initial Valadata acquisition was $5.4 million in cash and an additional $1.5 million over the next two years, subject to performance milestones. The purchase price for the separate retail portfolio was $500,000.