Elavon Acquires Canadian Merchant Processor Collective Point of Sale Solutions

Mon Feb 4, 2013 4:00pm EST

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Deal Fuels Elavon`s Global Growth by Expanding Payment Offerings in Canada
ATLANTA--(Business Wire)--
Elavon, a leading global payments provider and wholly-owned subsidiary of U.S.
Bancorp (NYSE: USB), has acquired Collective Point of Sale Solutions Ltd.
(Collective POS) in Toronto, Canada. The deal expands Elavon`s presence and
distribution network in Canada and aligns with Elavon`s global growth strategy
in strategic markets. 

"The opportunities for Elavon to leverage Collective POS` solutions and
established customer base in Canada will deliver the best of both companies`
offerings to the Canadian marketplace," said Tom Boyer, President of North
America for Elavon. "Establishing a greater presence in the Canadian market is
in line with Elavon`s global growth plans." 

Founded in 2001, Collective POS is known for providing innovative, customized
payment processing and merchant services to entrepreneurs and owners of small to
medium-sized businesses in Canada. With more than 80 employees, Collective POS
serves nearly 12,000 businesses across Canada and processes in excess of $1
billion worth of debit and credit card transactions annually. 

"We have a strong reputation as a trusted provider of payment solutions in
Canada," said Michael Back, president of Collective POS. "We look forward to
expanding our offerings and delivering even greater value and benefits to our
customers in the Canadian market as a benefit of this acquisition." 

As part of the agreement, Back and the Collective POS executives will continue
in their leadership role at Collective POS and will work closely with Elavon to
align the 80 existing employees` at the company with the needs of Elavon in
Canada. 

The financial terms of the agreement were not disclosed. 

About Elavon (www.elavon.com): Elavon`s Global Acquiring Solutions organisation
provides end-to-end payment processing services to more than one million
merchants in the United States, Europe, Canada, Mexico, Puerto Rico and Brazil.
Elavon markets solutions including credit and debit card processing, gift cards,
dynamic currency conversion, multi-currency support, and cross-border acquiring
through multiple alliance channels including financial institutions, trade
associations and third party sales agents. Elavon`s suite of solutions is
tailored to meet the needs of merchants in specialized markets such as small
business, retail, hospitality/T&E, health care, education and the public sector.
European activities are conducted through Elavon Financial Services Limited, an
Irish registered bank headquartered in Dublin, which is a wholly owned
subsidiary within the U.S. Bancorp (NYSE: USB) group of companies.

Elavon
Holly Lytle, 404-606-0129
Holly.lytle@elavon.com
or
U.S. Bancorp
Teri Charest, 612-303-0732
teri.charest@usbank.com

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