Certegy Check Services, Inc., a subsidiary of Certegy Inc., based in St. Petersburg, Florida, has announced the completed acquisition of Accu Chek, Inc. for $25 million in cash. Accu Chek, located in Tuscaloosa, Alabama, is the nation’s leading provider of third-party check collection services, generating approximately $9 million in annual revenue.
Certegy Check Services, formerly known as Equifax Check Solutions, is the premier provider of check risk management, authorization and loss prevention services to retailers, supermarkets, E-Commerce, gaming and check cashing establishments worldwide. “The acquisition of Accu Chek is a great complement to our product offering and strengthens our core strategy of providing the most efficient and cost effective check acceptance solutions to our customers. The combination of Certegy’s risk management and Accu Chek’s check recovery systems provide a capability unmatched by any other service offering in the industry. We expect to derive considerable strategic benefits in the long term from this complementary business,” stated Jeff Carbiener, senior vice president and group executive for Certegy Check Services.
Accu Chek, founded in 1989, primarily provides third-party check collection services to national retailers, and also licenses their system to those who wish to maintain collection operations in-house through their Private Label program. Their state-of-the-art collection process, the only one in the marketplace designed specifically for check collections, includes features such as automated skip tracing, client-specific process flexibility and image web-based reporting. Accu Chek will retain its operations in Tuscaloosa, Alabama.
Certegy Inc. provides credit, debit and merchant card processing, e-banking, check risk management and check cashing services to financial institutions and merchants worldwide. Headquartered in Alpharetta, Georgia, Certegy maintains a strong global presence with operations in the United States, Canada, the U.K., Ireland, France, Chile, Brazil, Australia and New Zealand. As a proven global payment services provider, Certegy enables transaction certainty, brings customers and commerce together and provides business results through leading technology. Certegy employs about 5,800 associates in 9 countries and had $779 million in revenue in 2000.Details