Simultaneously, Delta Singular Outsourcing Services entered a 10-year agreement to provide payment processing and related services to its largest client, Alpha Bank. As the second largest commercial bank in Greece, Alpha Bank issues MasterCard cards, is the largest issuer of Visa cards and the only issuer of American Express cards in Greece. Delta Singular Outsourcing Services processes more than 1.5 million debit cards and 2 million credit cards, drives more than 1,200 ATMs and manages more than 12 million POS transactions annually. Under terms of the agreement announced on 10 June 2004, First Data acquired 100 percent of Delta Singular Outsourcing Services shares. Delta Singular shareholders voted to approve the acquisition on 8 July 2004. J.P. Morgan advised First Data, and Credit Suisse First Boston and Alpha Finance advised Delta Singular on this transaction.
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