Global Payments Completes UCS Acquisition
On April, 30, 2009, Global Payments Inc., a leading provider of electronic transaction processing solutions, announced today that it has completed the acquisition of ZAO United Card Service (“UCS”) in a stock purchase transaction. Under the terms of the agreement, Global Payments will pay a total of USD75 million in cash to acquire UCS.
Global Payments’ Chairman and Chief Executive Officer, Paul R. Garcia said, “Russia continues to be one of the world’s fastest growing payments markets. UCS provides us with a direct merchant acquiring platform for long-term growth in Russia and a foundation for other direct acquiring opportunities in Central and Eastern Europe.”