Electronic Data Systems has acquired TransAlliance, an electronic funds transfer (EFT) company, for an undisclosed amount. For the past five years, EDS had been a 50-50 joint venture partner in Bellevue, Wash.-based TransAlliance with 21 financial institutions. The Plano, Texas-based professional services giant is buying the rest of the company as part of an aggressive growth strategy to expand its EFT processing division.
TransAlliance provides EFT services for automated teller machines and bank transaction processing in roughly 13 western states. For EDS, the TransAlliance deal includes the NorthWest Exchange ATM network and the Accel debit network and will give EDS approximately 475 TransAlliance customers and network members. More than 100 TransAlliance employees will be joining EDS as part of the agreement. Daily operations for former TransAlliance clients and a data center will remain in Bellevue, Wash. Support offices will remain in California.