"Hansen Technologies Limited (Hansen) is pleased to announce that it has reached an agreement to purchase the Peace utility customer information system business from First Data Corporation, effective 21 October 2008. This purchase is being funded entirely from Hansen’s existing internal cash resources."
Nice to have cash.
"The purchase of the Peace business, when combined with the initiatives we have announced to bench mark Hansen’s existing proprietary HUB billing solution to 1 million interval meters, will position Hansen as a key supplier of billing solutions to the utility industry on the world stage."
Company announcement: http://www.hsntech.com/investor_relations/feature.asp?id=295
from Wikipedia In 2005, First Data was among 53 entities that contributed the maximum of $250,000 to the second inauguration of President George W. Bush.[1] [2] [3]
On January 26, 2006, First Data announced its intention to spin off Western Union into an independent publicly traded company through a tax-free spin-off of 100% of Western Union to First Data shareholders. The spin off occurred as planned on September 29, 2006.
On April 2, 2007 it was announced that KKR entered an agreement to acquire First Data (NY Times article)
Now under private ownership, First Data's stock was taken off the New York Stock Exchange on the 24th of September. On October 1, 2007 KKR (Kohlberg Kravis Roberts) officially took over the First Data corporation. Ric Duques retired, leaving the CEO position to Michael Capellas. Michael Capellas was previously the CEO of MCI, Inc., the president of Hewlett-Packard Company, and also the chairman/CEO of the Compaq Computer Corporation.
---- I have a vested interest in promoting HSN, do your own research
After First Data became privately owned, hundreds of workers were laid off across North America, Europe and Australia.
First Data entered the Ireland market in a joint venture with Allied Irish Banks plc (www.aib.ie). The partnership will be named AIB Merchant Services.
HSN Price at posting:
37.0¢ Sentiment: LT Buy Disclosure: Held
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