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Private Placement Follows Transformative Year Under New Management Team
Technology and Innovation Drives Vision for Client Business Growth Built on Platform of Powerful Global Partnerships and Alliances
Substantial Equity Raise Results in Annual Interest Savings of
"We have taken full advantage of the last 12 months to strengthen our
company through a total focus on serving our clients and bringing them
new innovations that help them grow their business," said
The private placement follows the first year of leadership under
Chairman and CEO
"We are pleased to be joined by several investors who saw, as we do,
that Frank's team is able to successfully combine First Data's existing
unique assets with cutting-edge technology that we believe will take the
company to the next level in the months and years ahead," said
Over the past year, First Data has used its market-leading position, with operations in 35 countries, to bring to market client-focused products that build on its unrivaled infrastructure, scale, partnerships and distribution network. With increased speed of product delivery, the company has harnessed its ability to create and deploy next-generation commerce solutions for its merchant clients and financial institution partners, built on powerful new hardware and software platforms with embedded data and analytics.
Among the achievements of the last year, aligned with the vision for a "New First Data," the company strengthened its capital structure, extended equity to all employees and attracted new talent through the addition of key executives.
To help clients grow their business, First Data launched new value-added commerce solutions, such as the Clover™ Station, Perka™ and InsighticsSM. Clover™ Station is First Data's new cloud-based business control and payment platform that puts a powerful business application marketplace at the merchant's fingertips. Perka™ is the company's mobile marketing and consumer loyalty platform that helps small to medium-sized merchants engage their customers with location-based smartphone apps. InsighticsSM creates business intelligence analytics for merchants to drive additional revenue.
Additionally, First Data over the past 12 months has announced a series of strategic partnerships, made investments in and partnered with innovative start-ups, entered the Brazilian market, and continues to invest in expanding the capabilities of the STAR® Network, its leading debit network.
All of these achievements were built on top of First Data's trophy asset, its proprietary critical infrastructure that links merchants and issuers, at scale, around the world.
Shares of the common equity have not been registered under the
Securities Act of 1933, as amended (the "Securities Act"), and, unless
so registered, may not be offered or sold in
About First Data
KKR is a leading global investment firm that manages investments across
multiple asset classes including private equity, energy, infrastructure,
real estate, credit and hedge funds. KKR aims to generate attractive
investment returns by following a patient and disciplined investment
approach, employing world-class people, and driving growth and value
creation at the asset level. KKR invests its own capital alongside its
partners' capital and brings opportunities to others through its capital
markets business. References to KKR's investments may include the
activities of its sponsored funds. For additional information about
This press release includes certain disclosures which contain
"forward-looking statements." You can identify forward-looking
statements because they contain words such as "believes" and "expects."
Forward-looking statements are based on the Company's current
expectations and assumptions. Because forward-looking statements relate
to the future, they are subject to inherent uncertainties, risks and
changes in circumstances that may differ materially from those
contemplated by the forward-looking statements, which are neither
statements of historical fact nor guarantees or assurances of future
performance. Important factors that could cause actual results to differ
materially from those in the forward-looking statements are set forth in
our Annual Report on Form 10-K for the fiscal year ended
Source: First Data
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