EDS Acquires Funds Transfer Company TransAlliance

Electronic Data Systems (EDS Quote - Cramer on EDS - Stock Picks) acquired TransAlliance LP, a regional electronic funds transfer company based in Bellevue, Wash.

Financial terms weren't disclosed. For the past five years, EDS, a software and technology consulting company, was a 50-50 joint venture partner in TransAlliance with 21 banks.

EDS, which is based in Plano, Texas, handles more than 200 million automated teller machine and debit transactions a month. Last week, EDS reported revenue of $19.2 billion for 2000.

In recent New York Stock Exchange trading, EDS gained 8 cents, or 0.1%, to $63.82.