First Data 2009 Annual Report Download - page 119

FIRST DATA CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 4: Business Combinations, Asset Acquisitions and Dispositions
Initial Consideration (a)
Businesses and Assets Acquired Month Total Cash
(in millions)
2009:
Banc of America Merchant Services, LLC (“BAMS”) ..................... June $3,444.2 —
ICICI Merchant Services ............................................ December 68.7 $ 68.7
Nine other acquisitions and merchant portfolio acquisitions ................ 25.8 25.8
$3,538.7 $ 94.5
2008:
Alliance with Allied Irish Banks p.l.c. (“AIB”) .......................... January $ 178.2 $178.2
Money Network Financial, LLC (“Money Network”) noncontrolling interest
buyout ........................................................ July 60.8 60.8
Chase Paymentech SolutionsTM (“CPS”) Alliance termination (b) ............ November 2,746.0 —
Two other acquisitions and merchant portfolio acquisitions ................ 28.1 28.1
$3,013.1 $267.1
2007:
Successor
First Data Government Solutions (“FDGS”) noncontrolling interest buyout .... November $ 73.8 $ 73.8
Merchant Solutions Alliance ......................................... November 29.7 29.7
Three other acquisitions and merchant portfolio acquisitions ............... 48.7 48.7
$ 152.2 $152.2
Predecessor
Instant Cash Services®(“Instant Cash”) ................................ March $ 125.7 $125.7
FundsXpress ..................................................... June 134.9 134.9
First Data Polska (formerly POLCARD SA) ............................ August 331.9 331.9
Four other acquisitions and merchant portfolio acquisitions ................ 122.1 122.1
$ 714.6 $714.6
(a) Does not consider cash acquired or debt assumed. Does not reflect cash paid or received in years subsequent
to initial acquisition.
(b) The receipt of the Company’s proportionate 49% share of the alliance was accounted for as a purchase
business combination.
2009 Acquisitions
Effective January 1, 2009, the Company’s accounting for business combinations followed the new
accounting guidance for business combinations and noncontrolling interests.
On June 26, 2009, Bank of America N.A. (“BofA”) and the Company, together with Rockmount
Investments, LLC (“Rockmount”), an investment vehicle controlled by a third-party investor, formed a new
company, BAMS. BAMS provides clients with a comprehensive suite of acquiring and processing payment
products for credit and debit cards as well as merchant loyalty, prepaid, check and e-commerce solutions.
The Company owns a 48.45% direct voting interest in BAMS and BofA owns a 46.55% direct voting
interest. The remaining stake in BAMS is a 5% non-voting interest held by Rockmount. The Company owns a
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