Pipeline Data Acquires 1,500 Merchant Accounts

Friday 25 February 2005 01:34 CET | News

Pipeline Data has entered into agreements to acquire two merchant portfolios totaling 1,500 accounts from two Independent Sales Organizations ISOs.

The 1,500 accounts represent $142,000,000 in annual consumer charge volume. Operating income is anticipated to be approximately $70,000 monthly. MacAllister Smith, CEO commented I am pleased that thanks to our organic growth and recent acquisitions, Pipeline Data will now service over 15,000 accounts. The portfolios will be purchased with a combination of cash and stock and the company expects the transactions to be finalized within the next several weeks. The acquisitions are anticipated to be accretive to earnings per share. Pipeline Data also announced that it will report 2004 year-end operating results on March 15, 2005.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce