is a payments services company. EFD
provides financial service companies and other large enterprises with new account decisions, fraud detection and payment processing services. On June 27, 2007, Fidelity National Information Services
, Inc. (FIS) announced that it was acquiring EFD in an all-cash transaction valued at about $1.8B. The target completion date for the acquisition was the 3rd quarter of 2007.
EFD was formed as eFunds Corporation in 1999 as a spin-off from Deluxe Corporation, bringing together some of the most established players in financial risk management and electronic transaction processing services; previously distinct businesses within Deluxe. In January 2000, iDLX Technology Partners, another Deluxe unit, combined with eFunds to add professional services and business process outsourcing capabilities to the new business. In June 2000, eFunds held its initial public offering on the NASDAQ
national market and later that year completed its separation from Deluxe. In March 2007, eFunds Corporation announced its transition to its new corporate brand EFD.
EFD | eFunds International
Based primarily in the US
, EFD|eFunds International Limited extends EFD's services beyond North America. In India
, eFunds employs more than 5,000 employees in its Software Development
services operations in Mumbai
. The company has been ranked among the top three BPO
providers in the country.