Lockton Sells lockline To DST

NU Online News Service, July 9, 11:55 a.m.EST?Lockton Inc. and DST Systems Inc. announced anagreement for DST Systems to acquire the lockline operatingcompanies from Lockton. Terms of the transaction were notdisclosed.

According to Lockton, lockline revenues for the fiscal year thatended April 30, 2002, were approximately $51 million. Both firmsare headquartered in Kansas City, Kan.

lockline was not a part of Lockton's core business, and therapid growth of the company over the last five years led a numberof companies to express an interest in, and make offers to acquirelockline, Lockton said.

lockline provides administrative services to support insuranceprograms for wireless communication devices, extended warrantyprograms for land-line telephone and consumer equipment, andevent-based debt-protection programs.

John Lumelleau, President of Lockton Companies, said that, "DSTacquired a very successful, rapidly growing, profitable business,and we generated substantial additional capital, enhancing theopportunity to continue growing our core brokerage business."