Deluxe Corporation

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Deluxe Corporation
Public
Traded as
IndustryCorporate services
Founded1915; 105 years ago (1915), in Saint Paul, Minnesota
HeadquartersShoreview, Minnesota, U.S.
Key people
  • Barry McCarthy (CEO)
  • Keith A. Bush (CFO)
RevenueIncrease US$ 1.97 billion (2017)
Increase US$ 331.19 million (2017)
Increase US$ 230.16 million (2017)
Total assetsIncrease US$ 2.21 billion (2017)
Total equityIncrease US$ 1.02 billion (2017)
Number of employees
5,886 (2017)
Websitewww.deluxe.com
Footnotes / references
[1]

Deluxe Corporation is an American small business financial services company. Deluxe produces personal and business checks,[2] logo design, website development, hosting, email marketing, social media management, search engine marketing and fraud protection services.[3] Deluxe also offers promotional products, custom apparel, business supplies, retail packaging, shipping supplies, eChecks and printed materials.

Deluxe and its subsidiary brands including New England Business Services Inc. (NEBS), McBee (formerly Royal McBee) and Checks Unlimited. Deluxe is based in the St. Paul suburb of Shoreview, Minnesota and has facilities in the U.S. and Canada to conduct its printing and fulfillment, call center, and administrative functions.[4]

History[edit]

Deluxe Corporation 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, and the Hotchkiss Lithograph Press (patented in 1928). He also created the first personal flat-pocket checkbook and holder.[2] Deluxe was originally a check printing company, but in the early 1900s expanded into customer service for businesses.[5]

In 1952, the Deluxe Corporation Foundation was created to contribute to charitable organizations.[6] The company was privately held until 1965, during which time it began using magnetic ink character recognition (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]

Deluxe shifted its focus from printing products to primarily business services in 2008.[10] It launched an employee background-screening service called HireRight and expanded its service offerings through acquisitions.[10] This included the purchase of Hostopia (web hosting), Logo Mojo (logo design), and PartnerUp (market intelligence).[10] Deluxe continued expanding in 2011 with the acquisitions of online printing service PsPrint and web-based marketing firm OrangeSoda.[2]

Company acquisitions[edit]

Year Company Business Notes
1994 T/Maker Computer software Acquired in 1994; formerly an early personal computer software company. It later sold the software product lines of T/Maker to Broderbund.
2000 Designer Checks Check manufacture Purchased for an undisclosed amount in 2000[11]
2004 New England Business Service Small business service provider Purchased for $747 million in 2004[12][13]
2005 Dots & Pixels Digital marketing and printing Purchased for an undisclosed amount in 2005[14]
2008 Hostopia Website hosting Purchased in 2008, acquiring 400,000 clients[15]
2008 Logo Mojo Logo design [10]
2008 PartnerUp Market intelligence Purchased for undisclosed amount in 2008[16]
2009 MerchEngines Search engine marketing Purchased in 2009 for a reported $30 million[17]
2012 OrangeSoda Web-based marketing [18]
2014 VerticalResponse Email marketing Purchased for $27 million in cash[19]
2014 Wausau Financial Services Financial services transaction processing Purchased for $90 million in cash[20]
2016 InkHead Promotional products distributor Acquired for an undisclosed amount in 2016
2016 180fusion Digital marketing Purchased for an undisclosed sum[21][22]
2016 Liquid Web (assets) Web hosting Purchased assets from LiquidWeb, which later acquired Rackspace's cloud sites web hosting unit.[21][23] Liquid Web itself was not acquired.
2018 LogoMix Logo design [24]
2018 MyCorporation Consulation [25]
2018 Colocrossing Internet hosting services (colocation provider)

Business units[edit]

Deluxe Corp and its subsidiary brands are organized and operate within three business units: Small Business Services, Financial Services, and Direct Checks.[26] The Small Business Services sector offers business checks, printed forms, promotional products, marketing materials, and related services and products.[26] 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.[26] The Direct Checks sector sells personal and business checks and related products and services.[26]

References[edit]

  1. ^ "US SEC: Form 10-K Deluxe Corporation". U.S. Securities and Exchange Commission. Retrieved April 22, 2018.
  2. ^ a b c Burns, Jim (3 September 2012). "Investor's Edge: As check printing business declines, Deluxe Corp. moves into services". The Post-Standard. Retrieved 3 November 2016.
  3. ^ Goodrich, Laura (2011). Seeing Red Cars: Driving Yourself, Your Team, and Your Organization to A. ReadHowYouWant. ISBN 9781459626409. Retrieved 3 November 2016.[verification needed]
  4. ^ Deluxe Corporation Company Snapshot URL last accessed November 21, 2009.
  5. ^ Goodrich, Laura (2011). Seeing Red Cars: Driving Yourself, Your Team, and Your Organization to A. ReadHowYouWant. ISBN 9781459626409. Retrieved 3 November 2016.
  6. ^ Keaton, Michael (August 19, 2009). "Deluxe Corporation Foundation Donates Funding to SCORE to Boost Small Business and Job Creation". SCORE. Archived from the original on November 24, 2009. Retrieved November 22, 2009.
  7. ^ Cullman, Lewis B. (2004). Can't Take It With You: The Art of Making and Giving Money. John Wiley & Sons. p. 107. ISBN 9780471666783. Retrieved 3 November 2016. Deluxe Check Printers + 1915.
  8. ^ John L. Mariotti (1997). The Shape Shifters. John Wiley and Sons. ISBN 0-595-48195-7.
  9. ^ Businessweek.com URL last accessed November 22, 2009.
  10. ^ a b c d Depass, Dee (10 August 2008). "Down but not out, Deluxe on a comeback". Star Tribune. Archived from the original on 18 November 2018. Retrieved 5 November 2016.
  11. ^ "Designer Checks | crunchbase". www.crunchbase.com. Retrieved 2017-09-05.
  12. ^ Serres, Chris (May 18, 2004). ""Deluxe Diversifies with Deal: $747 Million for Maker of Business Forms"". Star Tribune.
  13. ^ "New England Business Service | crunchbase". www.crunchbase.com. Retrieved 2017-09-05.
  14. ^ "Dots & Pixels - Contributors | crunchbase". www.crunchbase.com. Retrieved 2017-09-05.
  15. ^ Schifrin, Matthew (21 September 2009). "Checkmaker Lives On". Forbes. Retrieved 5 November 2016.
  16. ^ Ha, Anthony (30 July 2008). "Business social network PartnerUp acquired by Deluxe Corp". VentureBeat. Retrieved 5 November 2016.
  17. ^ Tartakoff, Joesph (14 July 2009). "Check Printer Deluxe Purchases Search Engine Marketing Firm MerchEngines". Gigaom. Retrieved 13 November 2016.
  18. ^ Zimmerman, Eilene (8 January 2014). "Making Sure Your Website Is Ready for Smartphones". The New York Times. Retrieved 21 November 2016.
  19. ^ Campbell, Anita (26 July 2013). "VerticalResponse Email Marketing Company Acquired by Deluxe". Small Business Trends. Retrieved 21 November 2016.
  20. ^ Ramstad, Evan (23 October 2014). "Deluxe net falls on charge, buys Wausau Financial". Star Tribune. Retrieved 21 November 2016.
  21. ^ a b "Deluxe Corp 10-Q". EDGARpro. 5 August 2016. Retrieved 21 November 2016.
  22. ^ "180Fusion Inc profile (showing Inc 5000 rank)". Inc.com. Retrieved 21 November 2016.
  23. ^ Miller, Ron (8 August 2016). "Rackspace sells Cloud Sites unit to Liquid Web". TechCrunch. Retrieved 21 November 2016.
  24. ^ "Marketwatch". May 9, 2018.
  25. ^ Transcribers, Motley Fool (2019-01-24). "Deluxe Corp (DLX) Q4 2018 Earnings Conference Call Transcript -". The Motley Fool. Retrieved 2019-03-01.
  26. ^ a b c d Deluxe Financial Services Company Profile on LinkedIn.com URL last accessed November 22, 2009.

External links[edit]