First Data 2008 Annual Report Download - page 131

FIRST DATA CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
In March 2007, the Company acquired Intelligent Results, a customer data analytics and decision management software provider. Intelligent Results is
reported as part of All Other and Corporate.
In March 2007, the Company acquired Instant Cash, a debit card and ATM payment processing service provider for community banks, credit unions,
thrifts and non-financial institutions. The purchase price allocation resulted in identifiable intangible assets of $54.3 million, which were being amortized over
three to 10 years, and goodwill of $70.2 million. Instant Cash is reported as part of the Financial Services segment.
In June 2007, the Company acquired FundsXpress, a provider of online banking and bill payment services. The purchase price allocation resulted in
identifiable intangible assets of $45.0 million, which were being amortized over eight years, and goodwill of $88.7 million. FundsXpress is reported as part of
the Financial Services segment.
In August 2007, the Company acquired First Data Polska, a merchant acquirer and card issuer processor in Poland. The purchase price allocation
resulted in identifiable intangible assets of $98.6 million, which were being amortized over eight years, and goodwill of $184.3 million. First Data Polska is
reported as part of the International segment.
The aggregate cash paid, net of cash acquired, for acquisitions during the predecessor period from January 1, 2007 through September 24, 2007 was
approximately $690 million. The valuations of the identifiable intangible assets of the businesses acquired during the 2007 predecessor period were
contemplated in the valuation associated with the merger discussed in Note 2.
Successor
In November 2007, the Company purchased the remaining interest in its FDGS subsidiary previously owned by minority interest holders. FDGS is
reported as part of the Financial Services segment.
In October 2007, the Company acquired Deecal International, a specialty software solutions provider for commercial payments in Dublin, Ireland.
Deecal International is reported as part of the International segment.
In November 2007, the Company acquired Check Forte, a payment transaction processing company in Brazil. Check Forte is reported as part of the
International segment.
In November 2007, the Company formed a joint venture with Standard Chartered PLC ("Merchant Solutions"), of which the Company owns 56%. The
joint venture provides merchant processing services in Asia. Merchant Solutions is a consolidated entity within FDC and is reported as part of the
International segment.
The aggregate cash paid, net of cash acquired, for acquisitions during the successor period from September 25, 2007 through December 31, 2007 was
approximately $137 million. The aggregate purchase price allocation associated with acquisitions during the 2007 successor period resulted in identifiable
intangible assets and goodwill as follows:
Purchase price
allocation
(in millions)
Weighted-average
useful life
Software $ 5.9 7 years
Customer relationships 31.0 8 years
Other intangibles 9.8 10 years
Total identifiable intangibles $ 46.7 8 years
Goodwill $ 71.5
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