FNDS 3000 Corp (FDTC)

[timhyma]

Big boys are starting to take notice of the business sector:

7:34AM MasterCard has purchased the prepaid Card Program Management operations of Travelex for $458 million in cash (MA) 250.64 : Co and Travelex announce that co has purchased the prepaid Card Program Management (CPM) operations of Travelex for $458 million in cash, with an earn-out of up to an additional $55 million if certain performance targets are met. The transaction is expected to close in the first half of 2011. MasterCard has no plans to issue cards directly as a result of this transaction. As part of the transaction, MasterCard and Travelex signed a long-term contract whereby MasterCard will provide program management services for the Travelex Cash Passport prepaid card sold through Travelex stores and online channels. MasterCard expects the transaction to be $0.04 dilutive to its 2011 earnings per share due to amortization and one time transaction and integration costs. For 2012, MasterCard expects the transaction to be neutral and accretive beginning in 2013.