Microbilt Acquires FiData

- SAN ANTONIO, Texas (10/30/01) - New Century EquityHoldings Corp. said Monday it has agreed to sell its money losingFiData loan processor for credit unions to Microbilt Corp., aKennesaw, Ga.-based provider of credit bureau data access andretrieval solutions. Under the deal, New Equity will receive a 9%stake in the privately held Microbilt. FiData, which provides loanprocessing for about 95 credit unions, lost $3.6 million on just$217,000 in revenues for the first six months of the year. NewCentury, formerly known as Billing Concepts, has sold off most ofits operating assets over the past year and now serves as a holdingcompany for, among other things, 42% of Princeton eCommerce, theelectronic biller. Microbilt is owned by Bristol Investments, Ltd.,which bought the company from First Data Corp.