Deluxe to acquire

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St. Paul, Minn.—Deluxe Corp. announced Thursday that it has agreed to buy Hostopia, a Mississauga, Ont.-based Web services company that serves small and midsize businesses, in an all-cash deal valued at about $122.4 million.

The acquisition is being made as Deluxe shifts its product and service offerings online from its traditional printed business product line.

“We’re moving into areas that are important to our small-business customers,” said Terry D. Peterson, VP-investor relations and chief accounting officer.

The boards of both companies have approved the deal, which is expected to close in the third quarter.

—Carol Krol

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