MILWAUKEE - eFunds Corp., an EFT company spun off from Deluxe Corp. in January, has filed for an initial public offering with the Securities and Exchange Commission.
The company said it hopes to raise $115 million in the offering which it plans to use for normal business operations as well as for some acquisitions and strategic alliances.
eFunds' DebitBureau database holds over 2.7 billion records from over 86,000 financial service locations and 82,000 retail locations. The company processed approximately five billion transactions in 1999. Its processing services drive more than 98,000 point-of-sale devices and more than 9,500 automated teller machines (ATMs).
Lehman Brothers, Bear, Stearns & Co. Inc., FAC/Equities and John G. Kinnard and Co.Inc. will underwrite the IPO.
