Deluxe Corp. has acquired the Florida-based financial analytics firm Datamyx for $160 million, the company said Monday.
Deluxe Corp. buys Datamyx for $160 million
Company said the deal enhances its small-business services niche.
October 20, 2015 at 2:14AM
Datamyx was owned by Halyard Capital in New York.
With Datamyx, Shoreview-based Deluxe gains a private firm that provides banks, credit unions and other financial services clients with marketing analytics and data to help target new customers, cross-sell services and increase revenue. Deluxe makes checks and provides consulting and financial services for small businesses.
Datamyx is expected to contribute $7 million in revenue during the rest of the fourth quarter. The acquisition will initially dilute earnings by about 6 cents per share, officials said.
"We believe the acquisition of Datamyx creates a tremendous strategic opportunity for us as we continue to grow our marketing solutions and other services product offerings," said Deluxe CEO Lee Schram. "Datamyx's expertise in transforming data into actionable marketing information provides valuable insight and helps customers grow their business. These added data analytics and modeling capabilities provide our Financial Services segment with another robust marketing offering for our customers."
Deluxe officials said the purchase was funded through the expansion of an existing credit facility, which now provides total financing capacity of $525 million. After the acquisition, about $428 million is still outstanding on the credit line.
Shares of Deluxe closed Monday at $60.78, up 7 cents.
Dee DePass • 612-673-7725
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