Verifact shareholders approve merger plan

Article Abstract:

International Verifact Inc. will merge with Checkmate Electronics Inc., based in Rosswell, GA, forming a new company to be called IVI Checkmate Corp., with a working capital of $40 million. The merged operation will be headquartered in Atlanta, GA. The proposed merger has been approved by shareholders of both company. The merged operation is expected to have annual revenue of $100 million and $120 million in 1998 and 1999, respectively. The new entity will operate IVI Checkmate Ltd., a subsidiary in Canada. Changes in the organizational structure of International Verifact and Checkmate Electronics will be made in June 1998.

Comment:

Will merge w/ International Verifact, forming new co IVI Checkmate, w/ working capital of $40 mil

Organizational history, Computer Auxiliary Equip, Computer and Peripheral Equipment Manufacturing, Georgia, Computer peripherals, IVI Checkmate Corp., International Verifact Inc. (Toronto, Ontario), Checkmate Electronics Inc.

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Wells Fargo plans no boost in presence after merger

Article Abstract:

Wells Fargo & Co. of San Francisco, CA, has no immediate intentions to increase the company's presence in Canada as the company reported on Jun. 8, 1998, its planned $31.4 billion merger with Minneapolis, MN-based Norwest Corp., which is the owner of Toronto, Canada-based Trans Canada Credit Corp. Since late 1997, Wells Fargo has been lending to small business in Canada through the Internet, by mail and by telephone. To date, the company has lent C$50 million. Meanwhile, Trans Canada Credit, which acquired Eaton Credit Corp. in 1998, operates 163 offices around Canada.

Comment:

Wells Fargo & Co of San Francisco, CA, is poised to merge w/ this co for $31.4 bil

Commercial Banks, Commercial Banking, California, Minnesota, Wells Fargo & Co., Norwest Corp.

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