MEMPHIS Concord EFS Inc. has completed its acquisition of Star Systems Inc. of Maitland, Fla., the countrys largest electronic fund transfer network.
Star, which had revenue of $183 million last year, is now a part of Concords Network Services, which includes automated teller machine terminal driving, debit card processing, gateway services, and the MAC and Cash Station debit networks. Concord plans to market the products in its Network Services group under the Star brand name.
Ronald V. Congemi, president of Star, has been put in charge of Concords network services. He reports to Concord president Edward A. Labry 3d. Mr. Congemi will focus on integrating Concord services for financial institutions under the Star brand and managing all financial institution relationships at Concord.