First Data Buys Vigo

First Data (FDC Quote - Cramer on FDC - Stock Picks) has bought Vigo Remittance, a provider of electronic money transfer services, from Boston private equity firm Great Hill Partners.

Terms weren't disclosed, but Denver-based First Data said Vigo serves 50 nations through more than 48,000 payment locations, primarily in the Latin American and Caribbean regions. The company has 4,000 send locations in the U.S.

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

"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."

On Friday, First Data added 2 cents to $40.52.