Stuart C Harvey Jr is President of Nova Information Systems and Chairman of euroConex Technologies. He has won laurels for successfully spearheading the company's international expansion and M&A initiatives. In a recent conversation with TPAtlanta.com, Mr. Harvey gets nostalgic about his journey so far with Nova and passionately talks about the road ahead….

Can you share your experiences with us during your stint in Dublin, Ireland as the head of Nova's European business development initiatives?

In 2000, Nova entered into an agreement to form euroConex Technologies with the Bank of Ireland. Nova later purchased Bank of Ireland's equity interest making it a wholly owned subsidiary. Over the last five years, euroConex has achieved strong growth in Ireland and the UK and has established a significant presence in selected European markets. The euroConex model of forming alliances with financial institutions and European payment processors has proven to be beneficial for all parties. Nova has completed significant acquisitions during the last several years. At the end of 2005, we acquired Citibank Card Acceptance (CCA), which is a major European card acquirer and a part of Citigroup Inc. This strategic acquisition involved approximately 100,000 merchant locations in more than 31 countries, and CCA operations based in the United Kingdom, Germany, Poland and Belgium. This deal raised euroConex's total portfolio to more than 200,000 merchant locations. Nova is a company, which is built more or less on acquisitions and when we acquire a company, we simply acquire the merchant contracts, which gets us further business.

What is Nova's modus-operandi, as far as acquisitions are concerned and how is the new acquisition of First Horizon in Denver, Colorado shaping up?

Synergy is the major force that allows for enhanced cost efficiencies of new businesses. When we acquire a company it is very important for us to do the work upfront so that we can consolidate our processing capabilities from a technology stand-point. We look at instantly reaping the benefits of an acquisition by significantly lowering our transaction costs and being very competitive from a pricing stand-point as well. On the domestic front, the acquisition of First Horizon Merchant Services has been very significant for us. This acquisition involved approximately 53,000 merchant locations in the United States, Canada and Puerto Rico, 400 employees, and FHMS systems, sales and operations centers based in Englewood, Colorado, and Orlando, Florida. This agreement is expected to add approximately $25 billion annually to NOVA's processing business. This acquisition is perfectly in sync with Nova's plans for the hospitality industry. As these merchants expand and open new outlets, all business related to systems and transaction processing is likely to fall into Nova's operational footprint. We have decided to keep the Denver, Colorado facility because it is convenient for us to provide certain specialized functions out of Denver. Nova does a thorough feasibility analyses to get the best out of its M&A program. In near future, growth is likely to come from business outside of the US since this country has done a good job of consolidation as a result of which the market is dominated by a few significant players. Nova looks at expanding its geographical footprint in Canada, Europe and beyond.

What are the major challenges faced by companies operating in your space?

Regulatory and statutory compliance is becoming one of the top priorities for companies operating in our space. Companies of our scale are required to make significant allocations in terms of time, resources and funds just to cater to compliance issues. At Nova, we are subjected to some kind of regulatory audit as much as ten months in a year. Though it is quite challenging to divert our key resources to something that is routine it gives us a sense of confidence that our quality and security in merchant processing is stronger than ever. We are also aware that in the face of security and compliance, revenue sometimes has to take a backseat for the long-term growth and stability of the business.

Nova has been a witness to the growth of Atlanta as a key business center. Professionally and personally how has been your moving experience?

Nova has been headquartered in Atlanta since its inception. We are very satisfied with the great talent pool available here; in fact, Atlanta is considered the heart of the payments industry, with many industry players located here. The biggest asset of Atlanta is its diversity. The place has a mix of people who have lived here for ages as well as exceptional foreign talent who reside here for professional reasons. The confluence of both creates a healthy professional environment from which to recruit and grow our business.