Message #20 From:
NewsBot Date: July 11, 2006 05:56:00 AM
PPDA News Pipeline Data Acquires Valadata, Inc.
QUINCY, Mass.--(BUSINESS WIRE)--July 11, 2006--Pipeline Data Inc. (OTCBB:PPDA) ("Pipeline") announced today that it has acquired Valadata, Inc., a retail merchant credit card processing provider catering primarily to the restaurant industry. Pipeline also announced today that it has acquired a separate retail portfolio. Management expects the acquisitions to add 8,500 merchant accounts to Pipeline's existing portfolio, resulting in approximately $190,000 in additional monthly cash flow.
The purchase price for the initial Valadata acquisition was $5.4 million in cash and an additional $1.5 million over the next two years, subject to performance milestones. The purchase price for the separate retail portfolio was $500,000.
Pipeline Data Inc. provides integrated credit card transaction processing services for merchants in three key areas: wireless mobile payment, e-commerce solutions and retail merchant payment. Pipeline Data services more than 33,000 accounts.
Safe Harbor Statement:
The information provided for in this Press Release contains forward-looking statements that involve risks and uncertainties more fully set forth in the Company's filing. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements relating to uncertainties that could affect performance and results of the Company in the future and, accordingly, such performance and results may materially differ from those expressed or implied in any forward-looking statements made by or on behalf of the Company. These risks and uncertainties include, but are not limited to those relating to the Company's growth strategy, customer concentration, outstanding indebtedness, seasonality, expansion and other activities of competitors, changes in federal or state laws and the administration of such laws, protection of the securities markets and other risks detailed in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. Statements made in this Press Release that are not historical facts are forward-looking statements that are subject to the "safe harbor" created by the Private Securities Litigation Reform Act of 1995. The Company's actual results could differ significantly from those discussed and/or implied herein.
