Financial News Roundup: May 24, 2004

Strategic Insights -

Diebold Inc. [DBD] announced its third order from UTI Bank in India, supplying a minimum of 600 automated teller machines (ATMs) and turnkey auxiliary services. Unisys Corp. [UIS] will participate in the UBS 2004 Software & IT Services Conference, with Al Binford speaking on a panel. CheckFree [CKFR] launched its Certified STP Partner program to enable vendors to integrate their applications with the SWIFTReady Gold CheckFree TradeFlow TPM and CheckFree MessageBroker financial messaging and workflow solutions. Bisys [BSG] faced class-action lawsuits filed by three law firms on behalf of purchasers of Bisys Group stock. Mitek Systems [MITK] lost its Nasdaq SmallCap listing due to failure to meet the $2.5 million shareholders' equity requirement, but will be eligible for quotation on the OTC Bulletin Board under the symbol MITK.

Key Takeaways:

  • Diebold Inc. [DBD] secured its third order from UTI Bank in India, supplying 600 ATMs and turnkey auxiliary services.
  • Unisys Corp. [UIS] will participate in the UBS 2004 Software & IT Services Conference, with Al Binford speaking on a panel.
  • CheckFree [CKFR] launched its Certified STP Partner program to enable vendors to integrate their applications with the SWIFTReady Gold CheckFree TradeFlow TPM and CheckFree MessageBroker financial messaging and workflow solutions.
  • Bisys [BSG] faced class-action lawsuits filed by three law firms on behalf of purchasers of Bisys Group stock.
  • Mitek Systems [MITK] lost its Nasdaq SmallCap listing due to failure to meet the $2.5 million shareholders' equity requirement.
  • NCR [NCR] partnered with OCBC Bank to integrate its self-service network with its customer-relationship management (CRM) system, providing targeted marketing and a personalized experience at its ATMs.
  • Metavante [MI] signed a definitive agreement with First Data Corp. [FDC] to purchase First Data's stock in NYCE Corp. for approximately $610 million in cash.
  • Equifax Inc. [EFX] introduced Equifax InterConnect, a component-based product suite to simplify and accelerate the credit and lending process.
  • VeriSign Inc. [VRSN] acquired Jamba! for approximately $273 million in cash and VeriSign stock.
  • First Data Corp. [FDC] increased its share re-purchase program by $2 billion.

Statistics:

  • $2.5 million: The amount of shareholders' equity Mitek Systems [MITK] failed to meet to retain its Nasdaq SmallCap listing.
  • 600: The minimum number of ATMs Diebold Inc. [DBD] will supply to UTI Bank in India.
  • $610 million: The approximate amount Metavante [MI] will pay to purchase First Data Corp.'s [FDC] stock in NYCE Corp.
  • $273 million: The approximate amount VeriSign Inc. [VRSN] will pay in cash and stock to acquire Jamba!.
  • $2 billion: The additional amount First Data Corp. [FDC] increased its share re-purchase program by.

Sources:

  • Diebold Inc. announcement: Diebold Inc.
  • Unisys Corp. participation in UBS 2004 Software & IT Services Conference: Unisys Corp.
  • CheckFree [CKFR] Certified STP Partner program: CheckFree [CKFR].
  • Bisys [BSG] class-action lawsuits: Three law firms, unnamed.
  • Mitek Systems [MITK] Nasdaq SmallCap listing loss: Mitek Systems [MITK].
  • NCR [NCR] partnership with OCBC Bank: NCR [NCR].
  • Metavante [MI] acquisition of First Data Corp.'s [FDC] NYCE Corp. stock: Metavante [MI].
  • Equifax Inc. [EFX] Equifax InterConnect product suite: Equifax Inc. [EFX].
  • VeriSign Inc. [VRSN] acquisition of Jamba!: VeriSign Inc. [VRSN].
  • First Data Corp. [FDC] increased share re-purchase program: First Data Corp. [FDC].