Ideon Group Inc. said its SafeCard Services Inc. subsidiary has completed its previously announced acquisition of United Bank Services.
Terms of the acquisition included $18 million up-front and as much as $12 million during the next three years, based on factors such as performance.
United Bank Services, based in Norman, Okla., handles insurance, travel- related services, membership programs, and merchant and reward marketing programs through financial institutions. Its 1995 revenues were about $12 million.
Ideon said the deal was not expected to materially affect 1996 earnings.