HSBC Buys Metris

Share this article:
HSBC Finance Corp. will acquire Metris Companies Inc. in an all-cash transaction valuing Metris at $1.594 billion. Metris will become a wholly owned subsidiary of HSBC Finance. The announcement was made yesterday.


HSBC Finance, Prospect Heights, IL, is the nation's sixth-largest issuer of MasterCard and Visa cards. Metris, based in Minnetonka, MN, and with offices in five states, is the 11th-largest issuer, with managed receivables of about $5.9 billion. Metris mainly serves the near-prime credit card market through direct mail and partnership affiliations.


Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Data/Analytics

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Data/Analytics

MeritDirect Opens San Jose Office

MeritDirect Opens San Jose Office

A force in direct mail, the company looks to expand its digital data services with a footprint in Silicon Valley.

Neustar Decides to Hand Data Over to its Clients

Neustar Decides to Hand Data Over to its ...

AK Media Insights Pro turns data over to marketers to create business-specific aggregations, integrate offline efforts, and probe deeper into their sales funnels.

Arthur Hughes, Who Wrote the Book on Database Marketing, Dies at 86

Arthur Hughes, Who Wrote the Book on Database ...

First published in the early days of the Web, Arthur Middleton Hughes's Strategic Database Marketing remains a bible for direct marketers.