BRIEF: First Data decides to cancel acquisition

Thu. November 06, 2008; Posted: 04:08 AM

Nov 06, 2008 (Omaha World-Herald - McClatchy-Tribune Information Services via COMTEX) -- FDC | Quote | Chart | News | PowerRating -- First Data Corp. has canceled plans to acquire InComm, an Atlanta company that distributes gift cards and other prepaid products and services such as music downloads.

No reason was given. The purchase was announced in April.

Instead of buying InComm, First Data said the companies had signed a distribution agreement that will let First Data and its merchant clients sell their prepaid cards on InComm racks in retail stores.

First Data already had a prepaid card business representing 200 national brands and several thousand merchants.

Ninety percent of the "open-loop" gift cards, those that can be used at a variety of retailers, are embossed and printed in Omaha. Closed-loop cards and other products are handled at other First Data locations.

Glen Turpin, a company spokesman in Denver, said Tuesday that there would be no impact on Omaha operations.

First Data had never announced a purchase price for InComm.

First Data is a major third-party processor of credit and debit card transactions for card-issuing banks and retailers. It also prints cards and bills cardholders.

--Contact the writer: 444-1081, virgil.larson@owh.com

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