Welsh, Carson, Anderson & Stowe, a New York private investment firm, has agreed to buy Banctec Inc. of Dallas in a deal valued at $525 million.

The deal would remove the struggling check processing and core banking software company from public scrutiny, said Susan Seiter, a Banctec spokeswoman. "As a private company, I think we can have a strategic focus and make investments for the long term," she said.

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