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Pipeline Data buys Valadata

11 July 2006  |  1946 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.

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