Speaking Of Acquisitions
First USA Paymentech, Inc., announced that it has agreed to
acquire GENSAR Holdings Inc., and its subsidiaries, GENSAR
Technologies Inc., and FirstNet.
GENSAR is one of the nation's premier providers of electronic
draft capture and authorization services, processing approximately
300 million transactions and servicing 120,000 merchant locations
across the U.S.
First USA Paymentech is a processor of merchant credit card
transactions and an issuer of commercial cards to businesses and
other entities. Paymentech, founded in 1985, is the third largest
processor of credit card transactions for merchants in the United
States, processing approximately $30.9 billion in sales volume and
approximately 574 million transactions during fiscal year 1996.
[Go Back]
