About FraedomFraedom works with banks globally to enhance their commercial card programs and give their customers a better way to manage business spend through its easy-to-use spend management system. The platform helps banks to differentiate their service, drive card uptake, increase card spend and improve customer retention. Fraedom's solutions also facilitate card management and increased payment efficiency through an advanced invoice payment feature. Its future-proofed technology gives customers complete visibility of their card purchases through card statementing, while providing detailed transaction data reports. Since its launch in 1999, Fraedom has managed over one billion transactions through its web-based platform, which translates to just under $270 billion (USD) in transactions to date. Fraedom's technology has been used by over 173,000 organizations. The company boasts offices in the UK, US, Canada, Australia, New Zealand, Singapore and Hong Kong and manages transactions for a total of 5.7 million employees worldwide. For more information about Fraedom, visit www.fraedom.com. Forward-Looking Statements This release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are identified by words such as "will," "is expected," and other similar expressions. Examples of forward-looking statements include, but are not limited to, statements we make about the likelihood and timing of the closing of the acquisition or the benefits to Visa arising from the completion of the transaction. By their nature, forward-looking statements: (i) speak only as of the date they are made; (ii) are not statements of historical fact or guarantees of future performance; and (iii) are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. Therefore, actual results could differ materially and adversely from Visa's forward-looking statements due to a variety of factors, including the risk that the transaction may not be consummated; the closing conditions relating to the transaction; and various other factors, including those contained in our Annual Report on Form 10-K for the fiscal year ended September 30, 2016 and our other filings with the U.S. Securities and Exchange Commission.
You should not place undue reliance on such statements. Except as required by law, we do not intend to update or revise any forward-looking statements as a result of new information, future developments or otherwise.