First Data Acquirers Vigo Remittance Corp.

Thursday 12 May 2005 17:42 CET | News

First Data has signed a definitive merger agreement to acquire Vigo Remittance Corp., a provider of electronic money transfer services to countries throughout the world.

This transaction is subject to regulatory approval and other customary closing conditions. Financial terms of the transaction were not disclosed. Vigo was founded nearly 20 years ago to provide money transfer services to Brazilian consumers living in New York City and Newark, New Jersey, and has successfully expanded to serve 47 countries. In 2003, Mario Trujillo, in partnership with Great Hill Partners, a Boston-based private equity firm, acquired Vigo and proceeded to improve and grow Vigos profitability and business efficiencies. Vigo operates through approximately 3,700 Agent locations from across the U.S. and more than 47,000 payment locations throughout the world, primarily in the Latin American and Caribbean regions. In 2004, Vigo processed approximately 8 million transactions.

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Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce


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