First Financial Management Corp. announces definitive agreement to acquire TeleCheck Mid-America

Patrick H. Thomas, chairman of the board, president, and chief executive officer of First Financial Management Corp. (FFMC) Wednesday announced the signing of a definitive agreement to acquire TeleCheck of Kansas Inc. (TeleCheck Mid-America), the largest independent TeleCheck franchise in the United...

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Bibliographic Details
Published inBusiness Wire p. 1
Main Author Thomas, Patrick H
Format Newsletter
LanguageEnglish
Published New York Business Wire 14.07.1993
Subjects
Acquisitions & mergers
Service industries
South Atlantic
Atlanta
GA
US
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Summary:Patrick H. Thomas, chairman of the board, president, and chief executive officer of First Financial Management Corp. (FFMC) Wednesday announced the signing of a definitive agreement to acquire TeleCheck of Kansas Inc. (TeleCheck Mid-America), the largest independent TeleCheck franchise in the United States. Based in Kansas City, TeleCheck Mid-America serves the states of Kansas, Missouri, Nebraska and the metropolitan area of Memphis, Tenn. "Mid-America added 4,500 customers to our check verification and guarantee business. With this purchase and the recent additions of TeleCheck Northwest, TeleCheck Puerto Rico and TeleCheck Oregon, the company-owned TeleCheck operation now serves merchant locations in 47 states," said Thomas, "and FFMC now owns 91% of the total TeleCheck U.S. network." (excerpt)