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Deluxe Corporation

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Deluxe Corporation

Deluxe Corporation
Public
Traded as NYSE: DLX
Industry Financial Administration
Founded 1915 (1915), Saint Paul, Minnesota
Headquarters Shoreview, Minnesota, USA
Key people
Lee Schram, CEO
Products Customized products, and services for financial institutions, small businesses and consumers
Revenue $1.52 billion USD (2012)
Number of employees
5,400
Website www.deluxe.com

Deluxe Corporation is one of the two largest check printers in the United States,[1][2] and provides various personalized products and services to small businesses, financial institutions, and consumers. Some of the services available from Deluxe Corp are design services, website services, print marketing, promotional products, and fraud protection services.[3]

Deluxe and its subsidiary brands including New England Business Services Inc. (NEBS), McBee (formerly Royal McBee) and Checks Unlimited are organized into three business segments:

  • Deluxe Financial Services-serving banks and credit unions
  • Deluxe Small Business Services-serving small businesses
  • Direct Checks-producing and delivering checks directly to consumers

Deluxe is based in the St. Paul suburb of Shoreview, Minnesota and has 33 facilities in the U.S. and 3 locations in Canada to conduct its printing and fulfillment, call center, and administrative functions.[4]

History

The company was founded as Deluxe Check Printers in 1915 by W.R. Hotchkiss in Saint Paul, Minnesota. Hotchkiss was the creator of some important, speed-enhancing inventions, which included the Hotchkiss Imprinting Press (patented in 1925), a two-way perforator (perfected in 1925), and the Hotchkiss Lithograph Press (patented in 1928).[5]

In 1952, the Deluxe Corporation Foundation was created to contribute to charitable organizations.[6] The company was privately held until 1965, by which time it was a pioneer in the new MICR check printing technology.[7]

By the 1980s, the company was facing reduced demand for its products and increasing competition.[8] In 1988 the company incorporated and changed its name to Deluxe Corporation.[9]

Acquisitions

In 1994, Deluxe Corporation acquired T/Maker, an early personal computer software company.[10] The software product lines of T/Maker were later sold to Broderbund.

In June 2008, Deluxe Corporation agreed to acquire Hostopia.com Inc, a web hosting company.[11]

On July 30, 2008, Deluxe announced its acquisition of PartnerUp,[12] an online networking community for small business owners and entrepreneurs. PartnerUp continues to operate under its own name, while Deluxe promotes PartnerUp among its small business customers.

By December 31, 2008, Deluxe Corp. also acquired Logo Mojo Design, Inc., and Yoffi Digital Press.[13]

In July 2009, MerchEngines was acquired by Deluxe Corporation.

On June 5, 2012, Deluxe acquired local search engine optimization company OrangeSoda.[14]

In July 2013, Deluxe acquired email marketing solution provider VerticalResponse.[15]

In January 2014, Deluxe completed the acquisition of Destination Rewards, a loyalty program provider based in Boca Raton, Florida.[16]

On October 22, 2014, Deluxe completed the acquisition of Wausau Financial Systems, a financial services processing company based out of Wausau, WI.

Business units

Deluxe Corp and its subsidiary brands are organized and operate within three business units: Small Business Services, Financial Services, and Direct Checks.[17] The Small Business Services sector offers business checks, printed forms, promotional products, marketing materials, and related services and products. This segment offers its services and products to small businesses and home offices through direct response marketing, financial institution referrals, independent distributors, the Internet, and sales representatives.[17]

The Financial Services sector sells personal and business checks; check-related products and services; customer loyalty, retention, and fraud monitoring and protection services; and stored value gift cards to banks and other financial institutions. It also provides enhanced services, such as customized reporting, file management, and expedited account conversion support.[17] This sector also provides marketing education to financial institution executives through the Deluxe Knowledge Exchange Series of seminars and workshops.[18]

The Direct Checks sector sells personal and business checks and related products and services directly to consumers through direct response marketing and the Internet. This segment sells its products under the Checks Unlimited, Designer Checks, and Checks.com brand names.[17]

References

  1. ^
  2. ^ John H. Harland Co. being acquired by M and F Worldwide Corp. must be approved by shareholders
  3. ^ Minnesota Public Radio URL last accessed November 21, 2009.
  4. ^ Deluxe Corporation Company Snapshot URL last accessed November 21, 2009.
  5. ^ [1] URL last accessed November 29, 2009.
  6. ^
  7. ^
  8. ^
  9. ^ Businessweek.com URL last accessed November 22, 2009.
  10. ^
  11. ^
  12. ^ [2] URL last accessed November 29, 2009.
  13. ^ NYTimes.com URL last accessed November 22, 2009.
  14. ^ http://markets.on.nytimes.com/research/stocks/news/press_release.asp?docTag=201206050730BIZWIRE_USPRX____BW5291&feedID=600&press_symbol=90889
  15. ^ Deluxe Corp. Buys Mktg. Firm For $27M As Profits Rise
  16. ^ http://topics.nytimes.com/top/news/business/companies/deluxe-corporation/index.html
  17. ^ a b c d Deluxe Financial Services Company Profile on LinkedIn.com URL last accessed November 22, 2009.
  18. ^ Stone Mantel URL last accessed November 30, 2009.

External links

  • Official website
    • Business data for Deluxe Corp:
  • Hoover's
  • Reuters
  • SEC filings
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