First Data Corp. (NYSE: FDC), a global leader in electronic commerce and payment services, today announced that it has completed the acquisition of Vigo Remittance Corp., a provider of electronic money transfer services to countries throughout the world. First Data purchased Vigo from Great Hill Partners, a Boston-based private equity firm. Financial terms of the transaction were not disclosed.

“The complementary strengths of First Data and Vigo will bring about more choice for consumers,” said Charlie Fote, Chairman and CEO of First Data. “The addition of the Vigo brand allows us to better serve consumers and their evolving money transfer needs.”

Vigo was founded nearly 20 years ago to provide money transfer services to Brazilian consumers living in New York City and Newark, N.J., and has successfully expanded to serve 50 countries worldwide. In 2003, Mario Trujillo, in partnership with Great Hill Partners, acquired Vigo and proceeded to improve and grow Vigo’s profitability and business efficiencies. Vigo operates through more than 4,000 send locations from across the U.S. and more than 48,000 payment locations throughout the world, primarily in the Latin American and Caribbean regions. In 2004, Vigo processed approximately eight million transactions.

“Consumers will benefit from the business combination of First Data and Vigo,” said Mario Trujillo, CEO of Vigo. “As demand for convenient, reliable and quick money transfer continues to grow, our companies will remain committed to delivering the services that consumers trust and depend on.”

Next Article: Conference Board Leading Indicators Reveal a Slowing ...