iPayment Acquires Accounts From FirstData

NASHVILLE, Tenn. - (12/29/04) -- iPayment Inc. said Tuesday it hasagreed to acquire a merchant account portfolio from First DataCorp. for $130 million. The portfolio will add about 25,000locations and more than $9 billion in annual charges to iPayment'snetwork and lift the payment processor's annual charge volume bymore than half. The deal follows last year's agreement by iPaymentto acquire 18,000 merchant accounts from First Data.