Deluxe Sells Safeguard Business to Proforma
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 11 2026
0mins
Should l Buy DLX?
Source: seekingalpha
- Transaction Overview: Deluxe has agreed to sell its Safeguard business and distributor network to Proforma, with the transaction expected to close in the coming weeks, marking a significant step in Deluxe's efforts to optimize its business portfolio.
- Market Leadership: Safeguard focuses on providing printed and promotional products to small and medium-sized businesses, while Proforma, recognized as a leader in the industry, will further strengthen its market position and enhance service capabilities.
- Financial Impact: This transaction allows Deluxe to concentrate on its core payments and data businesses, which are projected to account for 50% of total sales by 2026, thereby driving future revenue growth for the company.
- Strategic Restructuring: By divesting non-core operations, Deluxe aims to optimize resource allocation, enhance operational efficiency, and pave the way for future growth opportunities, ensuring the company remains agile in a competitive market.
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Analyst Views on DLX
About DLX
Deluxe Corporation is a payments and data company. Its Merchant Services segment provides electronic credit and debit card authorization and payment systems and processing services, primarily to small and medium-sized retail and service businesses. The B2B Payments segment provides treasury management solutions, including remittance and lockbox processing, remote deposit capture, cash application, and payment acceptance solutions, as well as integrated accounts payable disbursements, such as e-checks, Medical Payment Exchange, and Deluxe Payment Exchange+, as well as fraud and security services. Data Solutions segment provides data, analytics, and marketing services for both business-to-business and business-to-consumer marketing, as well as financial institution profitability reporting and business incorporation services. Print segment provides printed personal and business checks, business essentials, as well as branded promotional, print, apparel, and digital storefront solutions.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Transaction Overview: Deluxe has agreed to sell its Safeguard business and distributor network to Proforma, with the transaction expected to close in the coming weeks, marking a significant step in Deluxe's efforts to optimize its business portfolio.
- Market Leadership: Safeguard focuses on providing printed and promotional products to small and medium-sized businesses, while Proforma, recognized as a leader in the industry, will further strengthen its market position and enhance service capabilities.
- Financial Impact: This transaction allows Deluxe to concentrate on its core payments and data businesses, which are projected to account for 50% of total sales by 2026, thereby driving future revenue growth for the company.
- Strategic Restructuring: By divesting non-core operations, Deluxe aims to optimize resource allocation, enhance operational efficiency, and pave the way for future growth opportunities, ensuring the company remains agile in a competitive market.
See More
- Transaction Overview: Deluxe has announced the sale of its Safeguard business and distributor network to Proforma, with the transaction expected to close in the coming weeks upon meeting customary closing conditions, marking a strategic shift towards its Payments and Data businesses.
- Brand Legacy: For over 60 years, Safeguard has provided printed and promotional products through its distributor network, and Proforma will continue to uphold this trusted brand, ensuring service continuity for customers during the transition.
- Strategic Priority: Deluxe President Tracey Engelhardt stated that this deal will accelerate the company's revenue mix shift towards Payments and Data, aligning with its key strategic priorities and further solidifying its market position.
- Industry Leadership: Proforma boasts nearly 50 years of experience in the printing and promotional industry, having invested over $50 million in technology to enhance its leadership position while supporting distributor success and driving sustainable growth.
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- Transaction Overview: Deluxe has announced the sale of its Safeguard business and distributor network to Proforma, with the transaction expected to close in the coming weeks upon meeting customary closing conditions, signaling the company's continued focus on Payments and Data.
- Business Transformation: This deal will accelerate Deluxe's revenue mix shift towards its Payments and Data businesses, further solidifying its competitive position in the market while continuing to provide checks and other printed offerings to Proforma, ensuring a smooth transition for customers.
- Industry Impact: With over 60 years of experience, Safeguard has been dedicated to providing businesses with printed and promotional products, and this transaction will enable Proforma's network to achieve sustainable growth while preserving the culture and integrity that define it, thereby driving further industry innovation.
- Strategic Investment: Proforma's investment of over $50 million in technology reinforces its position as an industry leader and supports its mission to empower Distributor Owner success, enhancing its influence in the printing and promotional products market.
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