Paymentech Acquires Scotiabank Business

Dallas-headquartered Paymentech, L.P., acquired Scotiabank’s merchant acquiring and point of sale transaction processing business, which provides debit and credit card payment services to more than 95,000 financial locations in Canada. As part of the transaction, Paymentech also acquired Scotiabank’s smart card business. The deal closed on October 31, 2002 and its value is undisclosed.

Paymentech was represented by in-house counsel Roger Hart and Jay Reeve; and by Eden Oliver, Lisa Shostack, John Kazanjian, John Jason, Jack Cook, Joseph Cosentino, Michael Hilliard, Evan Howard, Damian Rigolo, Steve Sansom, Judith Harris, Sean Aylward and Alex Pankratz of Osler, Hoskin & Harcourt LLP. Scotiabank was represented by in-house counsel Anita Mackey; and by Stephen Clark, Andrew Armstrong, Navin Khanna, Dean Palmer, Michael Quigley, James Warnock, Glen MacArthur and Greg Winfield of McCarthy Tétrault LLP.