First Data 2008 Annual Report Download - page 133

FIRST DATA CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
2006 Dispositions
In July 2006, the Company sold the majority of its ownership interest in its subsidiaries PPS and IDLogix to five national financial institutions to form
Early Warning Services, LLC. Due to Early Warning Services, LLC being structured as a limited liability company, FDC's remaining interest in Early
Warning Services, LLC was accounted for using the equity method of accounting and was reflected in the "Investment in affiliates" line item of the
Consolidated Balance Sheets until the sale of the Company's remaining interest in July 2008. Refer to Note 19 for additional discussion.
In November 2006, the Company sold its subsidiary Taxware to ADP(R) Employer Services, a division of Automatic Data Processing, Inc. Refer to
Note 19 for additional discussion.
Other Information
The following table outlines the net assets acquired and net cash paid for acquisitions (at date of acquisition) (in millions):
Successor Predecessor
Year ended
December 31,
2008
Period from
September 25
through
December 31,
2007
Period from
January 1
through
September 24,
2007
Year ended
December 31,
2006
Fair value of net assets acquired $ 3,013.1 $ 152.2 $ 714.6 $ 335.4
Less non-cash consideration (2,746.0) — — —
Less cash acquired — (15.6) (24.3) (47.9)
Net cash paid for acquisitions $ 267.1 $ 136.6 $ 690.3 $ 287.5
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