First Cash Financial Services Selects AT&T for International Network Services
Arlington, Texas, December 27, 2007
AT&T Inc. (NYSE:T) today announced that First Cash Financial Services (NASDAQ: FCFS), a leading provider of specialty consumer financial services and related retail products, has selected AT&T to provide domestic and international network services under a three-year, $7 million contract.
Under the terms of the agreement, AT&T is providing Virtual Private Network (VPN) services to nearly 250 First Cash retail locations in the United States. Additionally, AT&T is providing a solution to connect nearly 190 First Cash retail locations in Mexico by using AT&T's Internet Protocol (IP)-enabled Multiprotocol Label Switching (MPLS)-based Frame Relay/ATM network. The two network solutions will work together and enable improved communications that will lead to business and customer benefits such as cost-efficiencies and optimized transaction time.
"First Cash Financial Services needed a service provider that offered not only a secure, reliable network solution, but also a global footprint," said Doug Orr, executive vice president and chief financial officer, First Cash Financial Services. "AT&T brought its expertise to the table, along with a flexible solution that could cater directly to our needs as they change with customer demand."
The MPLS-based solution offers a scalable way for First Cash to introduce critical applications as needed — offering a flexible foundation on which to build new applications and bandwidth. A significant element of First Cash's growth strategy is based on the aggressive expansion of new stores and products in Mexico. As the market for these services evolves in Mexico, First Cash can meet demand by mirroring those changes in its data network.
Business continuity is an added benefit that these solutions provide for First Cash. Each retail location is connected to a data center with dual-entry into the network, which provides added reliability for connecting to the network services. If one point of entry is unavailable, First Cash stores have a second connection to the network available at all times. The MPLS-based solution also allows First Cash to have greater flexibility in managing the data flow from its stores to the data center. This enables First Cash to balance its data loads during peak times to ensure the greatest network efficiency while relying on two points of entry into the network.
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About First Cash Financial Services, Inc.
First Cash Financial Services, Inc. is a leading specialty retailer and provider of consumer financial services. Its pawn stores make small loans secured by pledged personal property, retail a wide variety of jewelry, electronics, tools and other merchandise, and in many locations, provide short-term loans and credit services products. The Company's short-term loan locations provide various combinations of short-term loan products, check-cashing, credit services and other financial services products. First Cash also operates automobile dealerships focused on the "buy-here/pay-here" segment of the used-vehicle retail market. In total, the Company owns and operates over 460 stores and buy-here/pay-here dealerships in thirteen U.S. states and ten states in Mexico. First Cash is also an equal partner in Cash & Go, Ltd., a joint venture, which owns and operates 39 check-cashing and financial services kiosks located inside convenience stores.
AT&T Inc. (NYSE:T) is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services and the nation's leading wireless, high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of its three-screen integration strategy, AT&T is expanding its TV entertainment offerings. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at www.att.com.
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