More About First Data Corp.'s Acquisition of InComm
In late April, First Data Corp. announced the acquisition of InComm, a marketer, distributor and technology innovator of stored value gift and prepaid products. At the time, specific terms weren't announced. Yesterday, First Data filed a 10-Q with the SEC reporting its financial results for the first quarter of 2008. In that filing, First Data disclosed more information about the acquisition: "The Company will acquire InComm for approximately $980 million, plus contingent future payments of up to $250 million over a three-year performance period." FDC says the acquisition is expected to close later this year.
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