John H. Harland Co. is Sold

ATLANTA – In the latest deal for a major credit union outsourcer, the John H. Harland Co. announced this morning it has agreed to be acquired by M&F Worldwide Corp. for $52.75 a share, or $1.7 billion. M&F Worldwide is the parent of well-known check printer Clarke American, a strategic partner for more than 3,200 credit unions and banks. Under the deal, expected to close in the second half of 2007, Harland will become a wholly owned unit of M&F Worldwide. The transaction is subject to review under federal antitrust rules. The deal follows recent acquisitions of Open Solutions Inc. and Digital Insight, two of the largest credit union outsourcers.