DST Systems, Inc. Announces Acquisition of lock\line®
August 2, 2002
KANSAS CITY, MO. (August 2, 2002) - DST Systems, Inc. today announced the acquisition of the operations of lock\line, LLC for cash. lock\line provides administrative services to support insurance programs for wireless communication devices, extended warranty programs for land line telephone and consumer equipment, and event based debt protection programs. lock\line is headquartered in the Kansas City area. lock\line revenues for its fiscal year ended April 30, 2002 were approximately $51 million.
Terms of the transaction were not disclosed. lock\line will be included in the Financial Services Segment for financial reporting purposes. The transaction is expected to be accretive to diluted earnings per share.
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