New Company to Develop E-Payment Solutions
EOne will be an online payment company that can give clients and customers immediate access to First Data's distribution channels, payment products and existing relationships.
First Data, Atlanta, which owns Western Union, has 2 million merchant locations and 1,400 card issuers.
IFormation, a company created by Goldman Sachs, Boston Consulting Group and General Atlantic Partners to back online businesses, will put up $135 million in cash and receive a 25 percent equity interest in eOne. First Data has invested $360 million for 75 percent of the equity in the company.
EOne will be based in Menlo Park, CA, with offices in Omaha, NE; New York, Denver, London and Hong Kong.