Card Fraud Group Flags Up £150m Sale Prospect

By Mark Kleinman, City Editor

One of Britain's biggest providers of card fraud prevention services could be about to net its backers a £150m windfall.

Sky News understands that ReD, which is owned by Palamon, a private equity firm, is to be put up for sale later this year.

Previously a stock market-listed company under the name Retail Decisions, it processes billions of transactions each year and helps retailers to prevent purchases using stolen credit card details.

ReD has been a major beneficiary of the rapid growth in online shopping, which analysts expect to grow even more quickly during the next few years as consumers increase usage of  tablets and other mobile devices.

Palamon has hired William Blair, an investment bank, to handle the auction process, insiders said on Wednesday.

The investment firm bought Retail Decisions in 2006, and sold its Australian arm to the US fleet and corporate card specialist Wright Express Corporation for roughly £200m.

ReD's operating brands include Prism, Shield and Fraud XChange, while its corporate customers for processing payments have included Wal-Mart, Tesco, T-Mobile, Texaco, Shell and Comet.

The decision to sell the company comes amid a flurry of corporate activity in the financial services support sector.

Bidders for ReD are likely to include other payment processing groups and private equity firms.

A Palamon spokesman declined to comment.

:: Watch Sky News live on television, on Sky channel 501, Virgin Media channel 602, Freeview channel 82 and Freesat channel 202.

Anda sedang membaca artikel tentang

Card Fraud Group Flags Up £150m Sale Prospect

Dengan url

http://kerjasendirianda.blogspot.com/2014/02/card-fraud-group-flags-up-a150m-sale.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

Card Fraud Group Flags Up £150m Sale Prospect

namun jangan lupa untuk meletakkan link

Card Fraud Group Flags Up £150m Sale Prospect

sebagai sumbernya