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Metavante Receives NYCE Shareholder Approval
Transaction Remains Subject to Regulatory Approval
MILWAUKEE, June 14 /PRNewswire-FirstCall/ -- Metavante Corporation, the
financial technology subsidiary of Marshall & Ilsley Corporation (NYSE:MI),
today announced that certain minority shareholders of NYCE Corporation have
waived their rights to match the terms of the definitive agreement announced on
May 17, 2004, by Metavante and First Data Corporation. The NYCE shareholders
who waived their rights are Bank of America Corporation, Citigroup Inc., HSBC
USA Inc. and J.P. Morgan Chase & Co.
As previously announced, the definitive agreement provides for the purchase of
substantially all of the stock of NYCE Corporation by Metavante for
approximately $610 million in cash. The transaction remains subject to
regulatory approvals and other customary conditions.
About NYCE Corporation
At the forefront of electronic payments in the United States, NYCE Corporation
provides consumers with secure, real-time account access, 100 million times
each month. Beyond its core service of providing the convenience of personal
identification number (PIN) debit account access at ATMs and retailer
point-of-sale (POS) terminals, NYCE continues to lead in the development of new
electronic payment services to enhance consumer convenience and expand service
offerings by its participants. In addition, NYCE Corporation provides ATM
driving and fully automated monitoring services, gateway services, on and
off-line signature debit card processing, and card authorization solutions.
NYCE recently expanded its reach across the border as the first payments
company to enable widespread PIN POS access for Canadian cardholders at U.S.
retailers, and as a processing provider through a Canadian-based joint venture
with Celero Solutions. NYCE Corporation is headquartered in Montvale, N.J. and
can be found on the web at http://www.nyce.net/ .
About Metavante
Metavante Corporation is a leading provider of electronic funds transfer (EFT)
and card solutions including debit-, prepaid debit-, and credit card- account
processing, card personalization, ACH processing, ATM driving and monitoring,
gateway transaction processing, merchant processing, transportation payment
solutions, healthcare identification card fulfillment, and flexible spending
account processing. Metavante provides EFT and card services to over 1,600
financial institutions, transportation agencies, and health insurance
companies.
Metavante processes transactions of value by providing clients with financial
technology solutions that drive customer relationship management, electronic
banking, electronic presentment and payment, financial account processing,
investment technology and retirement plan services. Headquartered in
Milwaukee, Wis., Metavante is wholly owned by Marshall & Ilsley Corporation
(NYSE:MI). Metavante is a registered trademark of Metavante Corporation. For
more information, see http://www.metavante.com/ .
DATASOURCE: Metavante Corporation
CONTACT: Chip Swearngan of Metavante Corporation, +1-414-357-3688, or
; or Mark Furlong of Marshall & Ilsley
Corporation, +1-414-765-8052, or
Web site: http://www.nyce.net/
http://www.metavante.com/