Credit card transaction processor First Data Corp., Atlanta, has formed a joint venture with IFormation Group – EONE Global LP – to process Internet and wireless transactions.
First Data, which invested $360 million in the deal, will own a 75% stake in EONE. New York-based IFormation paid $135 million in cash for a 25% stake and has warrants to buy 1.75 million First Data shares. The companies also invested $100 million in cash.
The company will operate through computer and phone networks, as well as through an as-yet un-named Web site.
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