Additionally, the cost of acquisition has a provision of $20 million based on an earn-out linked to certain performance parameters.
Regulus was founded in 1995 as a provider of remittance processing solutions. It is the largest independent bill presentment and remittance processing company, handling more than 2.1 billion paper and electronic transactions annually.
Headquartered in Napa, California, the company operates a nationwide network of ten processing centers in California,
Georgia, Illinois, New Jersey, North Carolina, Iowa and Texas. Regulus has approximately 1,300 employees.
The company processes one in every fifty check payments in the US and produces an estimated one of every 25 consumer
statements generated in the US. The company reported revenue of approximately $148 million for the 12 months ended December 2007.
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