M&A Deal Summary

Electronic Funds Source Acquires T-Chek Systems

On October 16, 2012, Electronic Funds Source acquired internet software and services company T-Chek Systems from C.H. Robinson Worldwide for 303M USD

Acquisition Highlights
  • This is Electronic Funds Source’s 1st transaction in the Internet Software and Services sector.
  • This is Electronic Funds Source’s largest (disclosed) transaction.
  • This is Electronic Funds Source’s 1st transaction in the United States.
  • This is Electronic Funds Source’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2012-10-16
Target T-Chek Systems
Sector Internet Software and Services
Buyer(s) Electronic Funds Source
Sellers(s) C.H. Robinson Worldwide
Deal Type Divestiture
Deal Value 303M USD

Target

T-Chek Systems

Eden Prairie, Minnesota, United States
T-Chek Systems, Inc. is a business-to-business provider of spend management and payment processing services. T-Chek’s technology supports a variety of funds transfer, vendor payment, fuel purchasing, and online expense management tools. Historically, T-Chek has focused on the transportation industry with its major customer segments including the truckload, less-than-truckload, and private fleet industries, and truck stop chains. Due to changes in the industry, T-Chek has expanded its business further into the financial services sector, to include funds transfer and expense management for other industries through its MasterCard® product.

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Buyer(S) 1

Buyer

Electronic Funds Source

Ogden, Utah, United States
Category Company
Founded 1996
Sector Information Technology
DESCRIPTION

Electronic Funds Source LLC is a provider of innovative and customized corporate payment technology solutions.

DEAL STATS #
Overall 1 of 1
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 1 of 1
Year (2012) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

C.H. Robinson Worldwide

Eden Prairie, Minnesota, United States
Category Company
Founded 1905
Sector Transportation
Employees14,990
Revenue 17.6B USD (2023)
DESCRIPTION
Entrance to C.H. Robinson's corporate headquarters in Eden Prairie, Minnesota.
Entrance to C.H. Robinson's corporate headquarters in Eden Prairie, Minnesota.

C.H. Robinson Worldwide is a third-party logistics (3PL) provider. C.H. Robinson provides freight transportation and logistics, outsourcing solutions, produce sourcing, and information services to over 45,000 customers through a network of offices in North America, South America, Europe, Asia, and Australia. C.H. Robinson Worldwide was founded in 1905 and is based in Eden Prairie, Minnesota.

DEAL STATS #
Overall 1 of 2
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 1 of 2
State (Minnesota) 1 of 2
Country (United States) 1 of 2
Year (2012) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-25 Phoenix International

Largo, Maryland, United States

Phoenix is a privately-held international freight forwarder. Phoenix primarily provides international freight forwarding services, including ocean, air, and customs brokerage, currently serving approximately 15,000 customers globally.

Buy $635M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-01 Freightquote.com

Kansas, Missouri, United States

Freightquote.com, Inc. is a provider of web-based freight transportation management services for small businesses.

Buy $365M
Mergr

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