Transaction Network Services Inc. said it has entered into a joint venture with General Cable PLC of the United Kingdom for the processing of point of sale and automated teller machine transactions.

The venture is 60% owned by the U.S. data transport vendor and 40% by General Cable, the United Kingdom's fifth-largest cable company. General Cable has had exclusive marketing rights to Transaction Network's dial-up credit card authorization technology since 1996, and it has been adopted by about 80% of major U.K. merchant-acquiring banks.

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