First Data and BoA merchant JV.

(From Banking Newslink)

Bank of America and First Data announced a joint venture designed to 'deliver next-generation payments solutions to merchants ranging from small business to commercial and corporate clients worldwide'. The JV will be called Banc of America Merchant Services LLP. The financial ownership is interesting with Banc of America owning 46.5%, First Data owning 48.5% and the remainder to be held by Rockmount Investments, LLC, an investment vehicle controlled by a third party investor. The announcement has fallen within the quiet time for Bank of America before the first half results announcement and more information on the financial impact is promised within the …