Nova Information Services in Atlanta, Georgia, has acquired Bancard USA, Automated Merchant Systems and American Bankcard Association.
Both Bankcard USA and Automated Merchant Systems have been ISOs for CrossCheck Inc., and CrossCheck has assigned the Check Guarantee Marketing Agreement and revenue stream, of the two ISOs, directly to Nova Information Services.
Last month, Nova completed acquisition of merchant contracts owned by First Fidelity and First Union. First Union Corp. of Charlotte, N.C., and First Fidelity Bancorporation of Newark and Philadelphia have completed their previously announced merger, creating America's sixth-largest bank, of approximately $126 billion.
The newly expanded First Union Corp. stretches 1,400 miles from north to south, covering the eastern U.S. from Connecticut to Florida -- a total of 12 states plus Washington, D.C.
The new First Union now operates approximately 2,000 automated teller machines, making it the third-largest ATM network in the country. In addition, the company operates 2,000 bank branches, providing financial services to more than 11 million customers.
First Union now serves a region that includes 35 percent of the U.S. population and four of the nation's five highest personal income areas. In addition, the company's new northeastern markets contain the greatest concentration of middle-market companies in America.
First Union took an equity position in Nova which is expected to go public next year.
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