Metavante Receives NYCE Shareholder Approval
14 June 2004 - 11:00PM
PR Newswire (US)
Metavante Receives NYCE Shareholder Approval Transaction Remains
Subject to Regulatory Approval MILWAUKEE, June 14
/PRNewswire-FirstCall/ -- Metavante Corporation, the financial
technology subsidiary of Marshall & Ilsley Corporation
(NYSE:MI), today announced that certain minority shareholders of
NYCE Corporation have waived their rights to match the terms of the
definitive agreement announced on May 17, 2004, by Metavante and
First Data Corporation. The NYCE shareholders who waived their
rights are Bank of America Corporation, Citigroup Inc., HSBC USA
Inc. and J.P. Morgan Chase & Co. As previously announced, the
definitive agreement provides for the purchase of substantially all
of the stock of NYCE Corporation by Metavante for approximately
$610 million in cash. The transaction remains subject to regulatory
approvals and other customary conditions. About NYCE Corporation At
the forefront of electronic payments in the United States, NYCE
Corporation provides consumers with secure, real-time account
access, 100 million times each month. Beyond its core service of
providing the convenience of personal identification number (PIN)
debit account access at ATMs and retailer point-of-sale (POS)
terminals, NYCE continues to lead in the development of new
electronic payment services to enhance consumer convenience and
expand service offerings by its participants. In addition, NYCE
Corporation provides ATM driving and fully automated monitoring
services, gateway services, on and off-line signature debit card
processing, and card authorization solutions. NYCE recently
expanded its reach across the border as the first payments company
to enable widespread PIN POS access for Canadian cardholders at
U.S. retailers, and as a processing provider through a
Canadian-based joint venture with Celero Solutions. NYCE
Corporation is headquartered in Montvale, N.J. and can be found on
the web at http://www.nyce.net/ . About Metavante Metavante
Corporation is a leading provider of electronic funds transfer
(EFT) and card solutions including debit-, prepaid debit-, and
credit card- account processing, card personalization, ACH
processing, ATM driving and monitoring, gateway transaction
processing, merchant processing, transportation payment solutions,
healthcare identification card fulfillment, and flexible spending
account processing. Metavante provides EFT and card services to
over 1,600 financial institutions, transportation agencies, and
health insurance companies. Metavante processes transactions of
value by providing clients with financial technology solutions that
drive customer relationship management, electronic banking,
electronic presentment and payment, financial account processing,
investment technology and retirement plan services. Headquartered
in Milwaukee, Wis., Metavante is wholly owned by Marshall &
Ilsley Corporation (NYSE:MI). Metavante is a registered trademark
of Metavante Corporation. For more information, see
http://www.metavante.com/ . DATASOURCE: Metavante Corporation
CONTACT: Chip Swearngan of Metavante Corporation, +1-414-357-3688,
or ; or Mark Furlong of Marshall & Ilsley Corporation,
+1-414-765-8052, or Web site: http://www.nyce.net/
http://www.metavante.com/
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