First Data 2009 Annual Report Download - page 124

FIRST DATA CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Successor
In November 2007, the Company purchased the remaining interest in its FDGS subsidiary previously owned
by noncontrolling interests. FDGS is reported as part of All Other and Corporate.
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 an alliance with Standard Chartered PLC (“Merchant Solutions”),
of which the Company owns 56%. The alliance 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 7years
Customer relationships ............................ 31.0 8 years
Other intangibles ................................ 9.8 10years
Total identifiable intangibles ................... $46.7 8 years
Goodwill ....................................... $71.5
Additional Information
The pro forma impact of all 2007 acquisitions on net income was not material.
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,
2009
Year ended
December 31,
2008
Period from
September 25, 2007
through
December 31,
2007
Period from
January 1, 2007
through
September 24,
2007
Fair value of net assets acquired .............. $3,538.7 $ 3,013.1 $152.2 $714.6
Less non-cash consideration ................. (3,444.2) (2,746.0) — —
Less cash acquired ......................... (8.0) — (15.6) (24.3)
Net cash paid for acquisitions ................ $ 86.5 $ 267.1 $136.6 $690.3
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