Heartland Payment Systems signs definitive agreement to acquire the Network Services business of Alliance Data Systems

Briefing.com

Posted: 2008-05-05 06:30:47

Co announces it has signed a definitive agreement to acquire the Network Services business of Alliance Data Systems (ADS). Heartland is paying $77.5 mln in cash for Network Services. The acquisition will be financed through a combination of cash on hand and the co's borrowing facilities. Heartland believes the acquisition will be non-dilutive to earnings in 2008 and accretive thereafter.