Beautifully engraved certificate unissued from the Concord Computing Corporation. This historic document was printed by the Security - Columbian United States Banknote Company and has an
ornate border around it. This item has the printed signatures of the Company’s President and Treasurer.
First Data Corp (FDC) definitively agreed to acquire all the outstanding common stock of Concord EFS Inc (CEF), a provider of funds transferring services, in a stock swap transaction valued at $6.936 bil. FDC offered .4 common shares per CEF share. Based on FDC's closing stock price of $34.68 on April 1, 2003, the last full trading day prior to announcement, each CEF share was valued at $13.87. Upon completion, FDC shareholders were to own 79%, and CEF shareholders were to own 21%, of the combined company.
EFS Transportation Services is a subsidiary of Concord EFS, Inc., a national leader in electronic transaction processing. Concord processes more than eight billion transactions annually, more than any other fuel card provider.
Concord's roots are in Concord, Massachusetts where they began thirty years ago as Concord Computing Corporation, a check verification services provider and manufacturer of point-of-sale (POS) equipment. In the mid-80's, Concord acquired Electronic Fleet Systems (EFS), a division of Union Planters National Bank. EFS offered fuel, fleet, driver and payroll management services for trucking companies, and later expanded into credit card authorization and settlement services for retailers.
By 1990, Concord had established its corporate headquarters in Memphis and shifted its sales focus to transaction processing that generates recurring revenues. In 1992, Concord was reorganized into a bank holding company, Concord EFS, Inc., under which EFS National Bank (EFSNB) was chartered. EFSNB enables Concord to sponsor clients in national credit associations to process MasterCard and Visa transactions and to utilize ATM and debit networks throughout the country.
In 1999, Concord acquired Electronic Payment Services, Inc., an electronic transaction processor. The following year brought continued growth when Concord acquired Card Payment Systems, a reseller of payment processing services, Virtual Cyber Systems, Inc., an Internet software development company, and the Cash Station® and STARsm networks.
Concord's headquarters are located in Memphis, Tennessee, and they operate data centers throughout the country. Today, the company has a market capitalization over $9 billion and employs more than 2,500 employees.
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