First Data Files for IPO
Summary
First Data Corporation, a Atlanta, GA-based provider of commerce-enabling technology and solutions, has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of its common stock.The company intends to use the proceeds from the offering for the repayment of certain indebtedness.Led by Frank Bisignano, Chairman and Chief Executive Officer, First Data provides secure payment transaction platforms which serves approximately six million business locations and 4,000 financial institutions in 118 countries around the world.An American Express-owned business, the company spun out from its parent and went public in 1992.In 2007, It was acquired by an affiliate of Kohlberg Kravis Roberts & Co. and became a private company.