First Data Corp., a provider of electronic commerce payments services, has completed its acquisition of Peace Software, a leading customer information system (CIS) product company that develops advanced software for managing utility billing and customer care. Financial terms were not disclosed.
This strategic acquisition provides First Data with a global CIS platform and related products and services. The Peace software will serve as the cornerstone of First Data's comprehensive integrated solution suite for the global utilities market.
"The response we've received from the marketplace since we announced the agreement in July has been overwhelmingly positive," said Sebastian J. Gunningham, president, First Data Utilities. "We believe that the joining of our two companies will result in a compelling value proposition to the worldwide utilities market. We welcome the investment in the Peace CIS and we are excited to move forward with the delivery of innovative and flexible products and services to our clients."