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July 30, 2019

Fiserv concludes $22bn deal for First Data purchase

Fintech firm Fiserv has wrapped up the acquisition of payment processor First Data.

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The consolidation is said to make Fiserv “one of the world’s leading payments and financial technology providers”.

The merged group will operate under the Fiserv brand.

Fiserv chairman and CEO Jeffery Yabuki said: “The completion of this transformative combination is a major milestone in the evolution of our companies.

“We have continued to identify ways in which we can deliver differentiated value to clients, associates and shareholders, and are excited to work together on fulfilling the promise of the combination.”

The all-stock deal worth $22bn was announced in January this year.

Under the earlier agreed terms, shareholders of First Data will get 0.303 of a Fiserv share for each share held.

The transaction was cleared by the UK Competition and Markets Authority at the beginning of this month.

Soon after the deal closure, Bank of America announced plans to terminate its electronic payment services joint venture with First Data in June 2020. The alliance began in 2009.

The bank is said to incur an impairment charge of around $1.7bn-$2.1bn in the third quarter of 2019 for breaking off the partnership.

The two parties will adopt independent merchant services strategies from next June but have committed to serving existing clients of Banc of America Merchant Services through at least June 2023.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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