EX-99.1
2
mf_ex99-1.htm
EXHIBIT 99.1 -- PRESS RELEASE
mf_ex99-1.htm
Exhibit 99.1
M
& F WORLDWIDE CORP. COMPLETES THE ACQUISITION OF PEARSON'S DATA MANAGEMENT
BUSINESS
NEW
YORK, NY- February 22, 2008 -- M & F Worldwide Corp. (NYSE: MFW) today
announced that it has completed the previously announced acquisition of the Data
Management business of Pearson plc for $225 million in cash, subject to
post-closing adjustments. M & F Worldwide financed the
acquisition with cash on hand.
Data
Management designs, manufactures and services scannable data collection
products, including printed forms, scanners and related software, and provides
survey consulting and tracking services, including medical device tracking, to
corporate and government clients. Data Management will be operated by and
integrated with Scantron Corporation, M & F Worldwide's subsidiary, which
helps education and commercial organizations measure and improve effectiveness
with assessment and survey solutions. Scantron's products and
services include scannable forms, scanning equipment, survey services and
testing software and related services.
About
M & F Worldwide Corp.
M
& F Worldwide Corp. has four business lines, which are operated by its
wholly owned subsidiaries Harland Clarke Holdings Corp. (through
Harland Clarke Corp., Harland Financial Solutions, Inc. and Scantron
Corporation) and Mafco Worldwide Corporation. Harland Clarke offers checks and
related products, forms and treasury supplies, and related delivery and fraud
prevention services. It also provides specialized direct marketing and contact
center services to its financial and commercial institution clients. Harland
Financial Solutions provides products and services including lending and
mortgage origination and servicing applications, business intelligence
solutions, customer relationship management software, branch automation
solutions, core processing systems and services and field maintenance services,
principally targeted to community banks and credit unions. Scantron provides
testing and assessment solutions to schools in North America, offers specialized
data collection solutions to educational and commercial institutions and
collects and manages survey information for a wide variety of Fortune 1000
organizations. Scantron's products and services include scannable forms,
scanning equipment, survey services and testing software and related
services. Mafco Worldwide produces licorice products for sale to the
tobacco, food, pharmaceutical and confectionery industries.
Note
with respect to M & F Worldwide:
This
press release contains forward-looking statements, within the meaning of the
Private Securities Litigation Reform Act of 1995, which involve risks and
uncertainties. M & F Worldwide's actual results may differ
materially from those discussed in such forward-looking
statements. In addition to factors described in M & F Worldwide's
Securities and Exchange Commission filings and others (including in the risk
factors set forth in the Quarterly Reports on Form 10-Q of M & F Worldwide
and Harland Clarke Holdings Corp., respectively, each filed with the Securities
and Exchange Commission on August 9, 2007), the following factors could cause M
& F Worldwide's actual results to differ materially from those expressed in
any forward-looking statements made by M & F Worldwide: (a) consolidation
among financial institutions and other adverse changes among the large clients
on which Harland Clarke Holdings Corp. depends, resulting in decreased revenues;
(b) lower than expected cash flow from operations; (c) significant
increases
in interest rates; (d) unfavorable foreign currency fluctuations; (e) the
Company's substantial indebtedness; (f) the inability to retain the Company's
clients, including as a result of the transaction referred to above; (g) the
inability to retain the Company's key employees and management, including as a
result of the transaction referred to above; (h) variations in contemplated
brand strategies, business locations, management positions and other business
decisions in connection with integrating the Data Management business; (i) the
Company's ability to successfully integrate Data Management into our business
and manage future acquisitions; (j) the ability to implement any or all
components of our business strategy, including with respect to growth prospects
or opportunities, or realize all of our expected cost savings or synergies from
the acquisition; and (k) the acquisition of Data Management otherwise not being
successful from a financial point of view, including by not being accretive to M
& F Worldwide's earnings.
Contacts:
Christine
Taylor
M
& F Worldwide Corp.
Tel:
212-572-5988

EX - 99 . 1 2 mf _ ex99 - 1 . htm EXHIBIT 99 . 1 -- PRESS RELEASE mf _ ex99 - 1 . htm Exhibit 99 . 1 M & F WORLDWIDE CORP . COMPLETES THE ACQUISITION OF PEARSON 'S DATA MANAGEMENT BUSINESS NEW YORK , NY - February 22 , 2008 -- M & F Worldwide Corp . ( NYSE : MFW ) today announced that it has completed the previously announced acquisition of the Data Management business of Pearson plc for $ 225 million in cash , subject to post - closing adjustments . M & F Worldwide financed the acquisition with cash on hand . Data Management designs , manufactures and services scannable data collection products , including printed forms , scanners and related software , and provides survey consulting and tracking services , including medical device tracking , to corporate and government clients . Data Management will be operated by and integrated with Scantron Corporation , M & F Worldwide 's subsidiary , which helps education and commercial organizations measure and improve effectiveness with assessment and survey solutions . Scantron 's products and services include scannable forms , scanning equipment , survey services and testing software and related services . About M & F Worldwide Corp . M & F Worldwide Corp . has four business lines , which are operated by its wholly owned subsidiaries Harland Clarke Holdings Corp . ( through Harland Clarke Corp . , Harland Financial Solutions , Inc . and Scantron Corporation ) and Mafco Worldwide Corporation . Harland Clarke offers checks and related products , forms and treasury supplies , and related delivery and fraud prevention services . It also provides specialized direct marketing and contact center services to its financial and commercial institution clients . Harland Financial Solutions provides products and services including lending and mortgage origination and servicing applications , business intelligence solutions , customer relationship management software , branch automation solutions , core processing systems and services and field maintenance services , principally targeted to community banks and credit unions . Scantron provides testing and assessment solutions to schools in North America , offers specialized data collection solutions to educational and commercial institutions and collects and manages survey information for a wide variety of Fortune 1000 organizations . Scantron 's products and services include scannable forms , scanning equipment , survey services and testing software and related services . Mafco Worldwide produces licorice products for sale to the tobacco , food , pharmaceutical and confectionery industries . Note with respect to M & F Worldwide : This press release contains forward - looking statements , within the meaning of the Private Securities Litigation Reform Act of 1995 , which involve risks and uncertainties . M & F Worldwide 's actual results may differ materially from those discussed in such forward - looking statements . In addition to factors described in M & F Worldwide 's Securities and Exchange Commission filings and others ( including in the risk factors set forth in the Quarterly Reports on Form 10 - Q of M & F Worldwide and Harland Clarke Holdings Corp . , respectively , each filed with the Securities and Exchange Commission on August 9 , 2007 ) , the following factors could cause M & F Worldwide 's actual results to differ materially from those expressed in any forward - looking statements made by M & F Worldwide : ( a ) consolidation among financial institutions and other adverse changes among the large clients on which Harland Clarke Holdings Corp . depends , resulting in decreased revenues ; ( b ) lower than expected cash flow from operations ; ( c ) significant increases in interest rates ; ( d ) unfavorable foreign currency fluctuations ; ( e ) the Company 's substantial indebtedness ; ( f ) the inability to retain the Company 's clients , including as a result of the transaction referred to above ; ( g ) the inability to retain the Company 's key employees and management , including as a result of the transaction referred to above ; ( h ) variations in contemplated brand strategies , business locations , management positions and other business decisions in connection with integrating the Data Management business ; ( i ) the Company 's ability to successfully integrate Data Management into our business and manage future acquisitions ; ( j ) the ability to implement any or all components of our business strategy , including with respect to growth prospects or opportunities , or realize all of our expected cost savings or synergies from the acquisition ; and ( k ) the acquisition of Data Management otherwise not being successful from a financial point of view , including by not being accretive to M & F Worldwide 's earnings . Contacts : Christine Taylor M & F Worldwide Corp . Tel : 212 - 572 - 5988