Deluxe Corporation

From Wikipedia, the free encyclopedia
For the motion picture laboratory, see Deluxe Entertainment Services Group.
Deluxe Corporation
TypePublic
NYSE: DLX
S&P 600 component
IndustryCorporate services
Founded1915; 106 years ago (1915), in Saint Paul, Minnesota
HeadquartersShoreview, Minnesota, U.S.
Key people
  • Barry McCarthy (CEO)
  • Scott Bomar (CFO)[1]
RevenueDecrease US$ 1.8 billion (2020)
Increase US$ 44.5 million (2020)
Increase US$ 8.8 million (2020)
Total assetsDecrease US$ 1.9 billion (2020)
Total equityDecrease US$ 540.8 million (2020)
Number of employees
6,500 (2020)[2]
Websitewww.deluxe.com
Footnotes / references
[3]

Deluxe Corporation is an American small business financial services company. Deluxe produces personal and business checks,[4] logo design, website development, hosting, email marketing, social media management, search engine marketing and fraud protection services.[5] 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.[6]

History[]

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.[4] Deluxe was originally a check printing company, but in the early 1900s 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, during which time it began using magnetic ink character recognition (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.[4]

Company acquisitions[]

Year Company Business Notes
1994 T/Maker Computer software Acquired in 1994;[13] 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[citation needed]
2004 New England Business Service Small business service provider Purchased for $747 million in 2004[14]
2005 Dots & Pixels Digital marketing and printing Purchased for an undisclosed amount in 2005[citation needed]
2008 Hostopia Website hosting Purchased in 2008, acquiring 400,000 clients[15]
2008 Logo Mojo Logo design [12]
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 SiteKreator WebSite Building [20]
2014 Wausau Financial Services Financial services transaction processing Purchased for $90 million in cash[21]
2016 InkHead Promotional products distributor Acquired for an undisclosed amount in 2016
2016 180fusion Digital marketing Purchased for an undisclosed sum[22][23]
2016 Liquid Web (assets) Web hosting Purchased assets from LiquidWeb, which later acquired Rackspace's cloud sites web hosting unit.[22][24] Liquid Web itself was not acquired.
2018 LogoMix Logo design [25]
2018 MyCorporation Consulation [26]
2018 Colocrossing Internet hosting services (colocation provider)

Corporate overview[]

Deluxe Corporation is a public company traded on the New York Stock Exchange. It is headquartered in Shoreview, Minnesota,[27] and has announced plans to move to downtown Minneapolis in 2021.[28] Deluxe has four business divisions: cloud, payments, promotional products, and checks.[2][29] As of 2020, Deluxe's clients include the Federal Reserve,[2] 4.5 million small businesses and 4,000 financial institutions.[30] Through its systems for customers to send and receive payments, Deluxe processes more than $2.8 trillion in annual payments.[2][31]

References[]

  1. ^ Grossman, Matt (June 2, 2021). "Deluxe Hires Scott Bomar as CFO". Dow Jones Newswires. Retrieved June 23, 2021.
  2. ^ Jump up to: a b c d Dreyfuss, Joel (March 28, 2020). "The century-old company that invented the checkbook may be a key coronavirus economic player". CNBC. Retrieved November 2, 2020.
  3. ^ "US SEC: Form 10-K Deluxe Corporation". U.S. Securities and Exchange Commission. Retrieved June 23, 2021.
  4. ^ Jump up to: 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.
  5. ^ Goodrich, Laura (2011). Seeing Red Cars: Driving Yourself, Your Team, and Your Organization to A. ReadHowYouWant. ISBN 9781459626409. Retrieved 3 November 2016.[verification needed]
  6. ^ Deluxe Corporation Company Snapshot URL last accessed November 21, 2009.
  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". . 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. p. 107. ISBN 9780471666783. Retrieved 3 November 2016. Deluxe Check Printers + 1915.
  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. ^ Jump up to: 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.
  13. ^ "T/Maker Acquired". Macworld. Vol. 11 no. 9. September 1994. p. 33. Retrieved 12 August 2021.
  14. ^ Serres, Chris (May 18, 2004). "Deluxe Diversifies with Deal: $747 Million for Maker of Business Forms". Star Tribune.
  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. ^ "SiteKreator now part of Hostopia". Sitekreator.com. 2014-03-05. Retrieved 2020-06-26.
  21. ^ Ramstad, Evan (23 October 2014). "Deluxe net falls on charge, buys Wausau Financial". Star Tribune. Retrieved 21 November 2016.
  22. ^ Jump up to: a b "Deluxe Corp 10-Q". EDGARpro. 5 August 2016. Retrieved 21 November 2016.
  23. ^ "180Fusion Inc profile (showing Inc 5000 rank)". Inc.com. Retrieved 21 November 2016.
  24. ^ Miller, Ron (8 August 2016). "Rackspace sells Cloud Sites unit to Liquid Web". TechCrunch. Retrieved 21 November 2016.
  25. ^ "Marketwatch". May 9, 2018.
  26. ^ Transcribers, Motley Fool (2019-01-24). "Deluxe Corp (DLX) Q4 2018 Earnings Conference Call Transcript -". The Motley Fool. Retrieved 2019-03-01.
  27. ^ Kennedy, Patrick (October 6, 2020). "New Deluxe CEO focuses on solidifying shift away from legacy check business". Star Tribune. Retrieved November 2, 2020.
  28. ^ Kennedy, Patrick (September 14, 2020). "Deluxe moving its headquarters from Shoreview to downtown Minneapolis". Star Tribune. Retrieved May 10, 2021.
  29. ^ Dignan, Larry (June 27, 2021). "How Deluxe transformed from paper checks to providing an SMB cloud, payments stack". ZDNet. Retrieved August 24, 2021.
  30. ^ Catts, Everett (September 9, 2020). "Deluxe Corp. center is bringing 709 jobs and $10.2M investment to Sandy Springs". MDJOnline.com. Retrieved May 25, 2021.
  31. ^ Beltran, Luisa (April 22, 2021). "Deluxe to Scoop Up First American for $960 Million". Barron's. Retrieved June 23, 2021.

External links[]

Retrieved from ""