Deluxe Corporation

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Deluxe Corporation
Public
Traded as NYSEDLX
S&P 400 Component
Industry Financial Administration
Founded 1915 (1915), Saint Paul, Minnesota
Headquarters Shoreview, Minnesota, USA
Key people
Lee Schram, CEO
Products Customized products, and services for financial institutions, small businesses and consumers
Revenue $1.77 billion USD (2015)[1]
Number of employees
5,874 (2015)
Website www.deluxe.com

Deluxe Corporation is one of the largest check printers in the United States,[2][3] and provides various personalized products and services to small businesses, financial institutions, and consumers. Some of the services available from Deluxe Corp are design services, website services, print marketing, promotional products, and fraud protection services.[4]

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 33 facilities in the U.S. and 3 locations in Canada to conduct its printing and fulfillment, call center, and administrative functions.[5]

History[edit]

Deluxe Corporate 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 (perfected in 1925), and the Hotchkiss Lithograph Press (patented in 1928). He is also the creator of the first personal flat-pocket checkbook and holder.[6] Deluxe was originally a check printing company, but experienced bottom-up innovation in the early 1900s and expanded into customer service for businesses.[7]

In 1952, the Deluxe Corporation Foundation was created to contribute to charitable organizations.[8] The company was privately held until 1965, by which time it was a pioneer in the new MICR check printing technology.[9] By the 1980s, the company was facing reduced demand for its products and increasing competition.[10] In 1988 the company incorporated and changed its name to Deluxe Corporation.[11]

Deluxe shifted its focus from printing products to primarily business services in 2008.[12] It launched an employee background-screening service called HireRight and expanded its service offerings through acquisitions.[12] This included the purchase of Hostopia (web hosting), Logo Mojo (logo design), and PartnerUp (market intelligence).[12] Deluxe continued expanding in 2011 with the acquisitions of online printing service PsPrint and web-based marketing firm OrangeSoda.[6]

Company acquisitions[edit]

Year Company Business Notes
1994 T/Maker Computer software T/Maker was acquired by Deluxe in 1994. It was an early personal computer software company. It later sold the software product lines of T/Maker to Broderbund.
2008 Hostopia Website hosting Deluxe purchased Hostopia in 2008, acquiring 400,000 clients.[13]
2008 Logo Mojo Logo design [12]
2008 PartnerUp Market intelligence Deluxe purchased PartnerUp for undisclosed amount in 2008. PartnerUp is a market intelligence firm that helps companies connect with other businesses, find executive candidates, and locate real estate and service providers.[14]
2009 MerchEngines Search engine marketing Deluxe purchased MerchEngines in 2009 for a reported $30 million. The company was added as an online advertising platform.[15]
2012 OrangeSoda Web-based marketing [16]
2014 VerticalResponse Email marketing Deluxe purchased email marketing software company VerticalResponse for $27 million in cash.[17]
2014 Wausau Financial Services Financial services transaction processing Deluxe purchased Wausau Financial for $90 million in cash. The company provides software products to manage receivables and remote deposits.[18]
2016 180fusion Digital marketing Deluxe purchased the digital marketing company 180fusion for an undisclosed sum. 180fusion is a Google Premier Partner and provides SEO and PPC services and is part of the Inc. 5000.[19][20]
2016 Liquid Web shared hosting Web hosting Deluxe purchased the shared hosting assets from LiquidWeb; LiquidWeb later acquired Rackspace's cloud sites web hosting unit.[19][21] Liquid Web itself was not acquired.

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.[22] The Small Business Services sector offers business checks, printed forms, promotional products, marketing materials, and related services and products.[22] 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.[22] The Direct Checks sector sells personal and business checks and related products and services.[22]

References[edit]

  1. ^ http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NjE0MjYwfENoaWxkSUQ9MzI4Mzg3fFR5cGU9MQ==&t=1
  2. ^ "Check printer Deluxe 1st-qtr profit falls". Reuters. Apr 23, 2009. 
  3. ^ John H. Harland Co. being acquired by M and F Worldwide Corp. must be approved by shareholders
  4. ^ Minnesota Public Radio URL last accessed November 21, 2009.
  5. ^ Deluxe Corporation Company Snapshot URL last accessed November 21, 2009.
  6. ^ a b 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. 
  7. ^ Goodrich, Laura (2011). Seeing Red Cars: Driving Yourself, Your Team, and Your Organization to A. ReadHowYouWant. ISBN 9781459626409. Retrieved 3 November 2016. 
  8. ^ 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. 
  9. ^ Cullman, Lewis B. (2004). Can't Take It With You: The Art of Making and Giving Money. John Wiley & Sons. ISBN 9780471666783. Retrieved 3 November 2016. 
  10. ^ John L. Mariotti (1997). The Shape Shifters. John Wiley and Sons. ISBN 0-595-48195-7. 
  11. ^ Businessweek.com URL last accessed November 22, 2009.
  12. ^ a b c d Depass, Dee (10 August 2008). "Down but not out, Deluxe on a comeback". Star Tribune. Retrieved 5 November 2016. 
  13. ^ Schifrin, Matthew (21 September 2009). "Checkmaker Lives On". Forbes. Retrieved 5 November 2016. 
  14. ^ Ha, Anthony (30 July 2008). "Business social network PartnerUp acquired by Deluxe Corp.". VentureBeat. Retrieved 5 November 2016. 
  15. ^ Tartakoff, Joesph (14 July 2009). "Check Printer Deluxe Purchases Search Engine Marketing Firm MerchEngines". Gigaom. Retrieved 13 November 2016. 
  16. ^ Zimmerman, Eilene (8 January 2014). "Making Sure Your Website Is Ready for Smartphones". The New York Times. Retrieved 21 November 2016. 
  17. ^ Campbell, Anita (26 July 2013). "VerticalResponse Email Marketing Company Acquired by Deluxe". Small Business Trends. Retrieved 21 November 2016. 
  18. ^ Ramstad, Evan (23 October 2014). "Deluxe net falls on charge, buys Wausau Financial". Star Tribune. Retrieved 21 November 2016. 
  19. ^ a b "Deluxe Corp 10-Q". EDGARpro. 5 August 2016. Retrieved 21 November 2016. 
  20. ^ "180Fusion Inc profile (showing Inc 5000 rank)". Inc.com. Retrieved 21 November 2016. 
  21. ^ Miller, Ron (8 August 2016). "Rackspace sells Cloud Sites unit to Liquid Web". TechCrunch. Retrieved 21 November 2016. 
  22. ^ a b c d Deluxe Financial Services Company Profile on LinkedIn.com URL last accessed November 22, 2009.

External links[edit]