Seeking to expand its information-processing business aimed at the health-care industry, National Data Corp. announced last Friday that it intended to acquire a small Ohio-based technology company for $26.4 million.
Officials at Atlanta-based National Data, a leading electronic payments processor, said that they had signed a letter of intent to purchase all of the common shares of General Computer Corp., based in Twinsburg, Ohio, for $14.25 each in cash.
National Data officials said that they expected the transaction to completed by November.
General Computer is a provider of electronic services and systems to pharmacies, physicians, and the health-care industry.
Shares of General Computer, traded on the over-the-counter market, rose $3.25 Friday, closing at $12.625.
National Data's stock closed at $20.625 a share Friday, down 25 cents.