First Data Corp. has signed an agreement to acquire Peace Software, a customer information system (CIS) product company that develops advanced software for managing utility billing and customer care.
Peace has developed a feature-rich, scalable off-the-shelf CIS software product, Peace, which has been installed and is operating at major utilities in 35 regulated and competitive electricity, gas and water markets around the world.
The transaction remains subject to certain legal and regulatory approvals. Subject to these approvals, First Data anticipates closing the transaction in the third quarter of 2006.
Financial terms were not disclosed.