BANKING & FINANCE - Sept. 4, 1991
From Times Staff and Wire Reports
Visa May Buy ATM Network: Visa U.S.A. is negotiating to acquire control of the Plus network of automated teller machines, according to Plus President D. Dale Browning. San Mateo, Calif.-based Visa acquired a third of Denver-based Plus System Inc. in 1987 for $3.5 million. Any deal is likely to be similar to the one MasterCard International struck in 1988 for Cirrus, the competing national ATM network. MasterCard paid $35 million to the six banking companies that owned Downers Grove, Ill.-based Cirrus System Inc. Cirrus has 55,000 ATMs in the United States and Canada. Plus has 42,851.
