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eFunds Corporation agrees to acquire Oasis Technology, LTD.

Announcement posted by eFunds International 30 Oct 2003

eFunds Corporation (Nasdaq: EFDS), a leading provider of risk management, electronic payments, ATM and global outsourcing solutions, announced today that it has signed a definitive agreement to acquire the assets of Oasis Technology, LTD., a private payment software company. The total purchase price is approximately US$28 million that will be paid in cash.
This acquisition is an important step in the execution of our long term strategic plan, said Paul Walsh, chairman and chief executive officer of eFunds. Oasis, with 150 customers in 75 countries around the world, is an innovative organization with a leading suite of payment products built on open architecture that will add breadth to our current offering and geographical depth to our market reach. Both eFunds and Oasis customers will benefit from our combined areas of expertise as we move forward on integrating our technologies and skill sets.
The Oasis acquisition will provide eFunds an immediate entry into new markets with an open solution platform. It will expand eFunds domestic and international customer base, providing them with immediate access to a broad range of payment products that complement its current offerings. The acquisition will also complement and grow the companys worldwide distribution channels.
The company intends to maintain and enhance its current EFT software solution, CONNEXTM, which is recognized for its system availability, reliability and throughput, while working to integrate important characteristics of the Oasis open solution, such as flexibility and lower cost of ownership. This will allow current CONNEX customers to choose the path that best enables them to minimize risk and prepare for future electronic payment technologies.

We are confident that as part of eFunds, we can provide the best combination of value, service, and innovation for our worldwide customers in a dramatically evolving payments industry," said David Pasieka, president and CEO of Oasis Technology. eFunds established reputation coupled with our combined experience and complementary offerings makes this an excellent fit. This demonstrates both organizations strong commitment to the software industry, and to their respective customers to continue providing leading technology and more flexibility than ever before. The entire Oasis Technology team looks forward to working with eFunds to build a combined world-class organization in the months and years ahead.
The combined organization will now serve more than 200 software customers in over 80 countries around the world. The company will also leverage a global network of distributors, integrators and strategic partners to become a leading provider of payment software solutions worldwide.
The acquisition is expected to close by the end of the fourth quarter 2003, subject to the satisfaction of customary closing conditions. eFunds anticipates that the transaction will be accretive in 2004 and beyond.
About eFunds
Headquartered in Scottsdale, Ariz., eFunds Corporation (Nasdaq: EFDS) is an industry leader with nearly 30 years of experience and expertise in electronic payments. eFunds provides electronic transaction software and processing, ATM solutions, risk management and global outsourcing solutions to financial institutions, electronic funds transfer networks, government agencies and retailers around the world.
Committed to providing excellent customer service and award-winning products, eFunds enables its clients to reduce transaction and infrastructure costs, detect potential fraud and enhance relationships with their customers. eFunds is one of the largest third-party processors of electronic funds transfers (EFT), is the largest non-bank deployer of ATMs in North America, and is the provider of the worlds largest debit database. www.eFunds.com.

About Oasis Technology, Ltd.
Oasis Technology Ltd. is a leading provider of software to enable payments any time, any place, on any device. Since 1989, Oasis has worked with financial institutions, card associations, third-party processors and retailers to build the most secure, reliable and flexible payment infrastructures available.
Oasis serves clients in more than 75 countries around the world, including ABN AMRO, American Express, Citibank, Credicard/Redecard Brazil, Diners, Europay, Golden Card (China), Luottokunta, MasterCard, National Processing Company, Saudi Arabian Monetary Agency, and Visa International. With corporate headquarters located in Toronto, Canada, the company operates a Latin America office from Miami, Florida. In Europe, Oasis manages operations from the United Kingdom and France. In the Asia-Pacific region, Oasis is represented by its official agent, Makeena Corporation. In addition, Oasis supports an extensive network of international partners, distributors and sales representatives. www.oasis-technology.com

Statements made in this release concerning the Company's or management's intentions, expectations, or predictions about future results or events are forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are necessarily subject to risks and uncertainties that could cause actual results to vary from stated expectations, and such variations could be material and adverse. Factors that could result in such a variation include, but are not limited to, the inherent unreliability of earnings and revenue growth predictions due to numerous factors, including many beyond the Company's control, potential difficulties, delays and unanticipated expenses inherent in the development and marketing of new products and services, competitive factors, and the numerous risks and potential additional costs, disruptions and delays associated with the establishment of new business initiatives. Additional information concerning these and other factors that could cause actual results to differ materially from the Company's current expectations is contained in the Companys Annual Report on Form 10-Q for the quarter ending June 30, 2003.