Global Payments Inc. of Atlanta, the nation's fourth-largest payments processor, has bought DolEx Dollar Express Inc., a Latin American money transfer business based in Arlington, Tex.
It paid about $190 million - $65 million in cash and $125 million in debt. The deal closed last Wednesday
DolEx had revenue of $69.9 million last year and processed 4.6 million electronic money transfer transactions. More than 80% were made with its proprietary magnetic-stripe card, Amigo Latino, which stores customer information. More than 300,000 are in use.
To reflect the purchase, Global Payments raised its earnings estimate for its current fiscal year, which will end May 31, to $1.65 to $1.72 per share - 15% to 20% more than the fiscal-2003 figure. The previous estimate was $1.57 to $1.64.
