Sunday , September 27, 2020

Mergers & Acquisitions

February, 2020

  • 13 February

    WEX’s Benefits and Corporate-Services Units Growing Faster Than Fleet Services

    Best known for its big fleet-fueling card business, WEX Inc. lately is getting stronger growth from its two other segments, health-care and employee benefits and corporate and travel services. WEX reported Thursday that total fourth-quarter purchase volume grew 8.4% to $20.1 billion from $18.5 billion a year earlier. Portland, Maine-based …

  • 13 February

    With Expanded Merchant Business Thanks to Worldpay, FIS Seeks to Exploit Its Acquiring Chops

    When Fidelity National Information Services Inc. closed on its $43 billion acquisition of Worldpay Inc. last summer, the payments industry knew the massive deal would boost FIS instantly into the top ranks of global merchant processors. On Thursday, the company let the world know just how big its position in …

  • 12 February

    The New Global Payments Looks to Value to Offset Impending Visa Rate Changes

    News of impending interchange-rate revisions from Visa Inc. may have roiled the payments industry, but for processing giants like Global Payments Inc., the impact will simply be business as usual. Top Global executives made that point crystal clear Wednesday. “We see these [rate changes] all the time. We have to accommodate …

  • 11 February

    Repay Expands Its Footprint with Ventanex Acquisition

    Payment-services provider Repay Holdings Corp. continued its run of acquisitions Monday when it announced it bought Ventanex for up to $50 million. Ventanex is an integrated-payments provider operating in consumer finance, especially mortgage-loan servicing, business-to-business health-care payments, and some other segments. Founded in 2012 and based in the Dallas suburb …

  • 11 February

    Mastercard Forms a Joint Venture To Clear Domestic Chinese Card Transactions

    Mastercard Inc. is the latest U.S. payments company to take initial steps to operate in China with Tuesday’s announcement it will form a joint venture with NetsUnion Clearing Corp. to establish a domestic bank card clearing entity. The entity formed from the joint venture—Mastercard NUCC Information Technology (Beijing) Co. Ltd.—received …

  • 10 February

    Four Indicted in Equifax Breach and other Digital Transactions News briefs from 2/10/20

    The U.S. Department of Justice announced indictments against four members of a unit of China’s People’s Liberation Army with computer fraud, economic espionage, and wire fraud in connection with the 2017 data breach at credit-reporting agency Equifax Inc. that compromised personal data on approximately 145 million Americans. According to the indictment, the defendants exploited …

  • 4 February

    Fiserv Tugs the Curtain Back a Bit on Early Gains From Its Big First Data Acquisition

    Six months after closing on its $22 billion acquisition of First Data Corp., Fiserv Inc. on Tuesday dropped some tantalizing hints about early benefits the deal has generated for the combined company. First Data’s Clover app-based platform for merchant checkouts, for example, saw its gross payment volume grow fully 40% …

  • 4 February

    A Hedge Fund’s Green Dot Stake and other Digital Transactions News briefs from 2/4/20

    Activist hedge fund Starboard Value LP has taken an approximately 9% stake in prepaid card and banking services provider Green Dot Corp., according to a regulatory filing. Green Dot issued a statement saying it “welcomes transparent, constructive feedback regarding the common goal of enhancing long-term shareholder value.” In the wake of a big …

  • 3 February

    POS Terminal Kingpin Ingenico Agrees To Be Acquired by Worldline in an $8.6 Billion Deal

    The mega mergers aren’t over yet. In a global move with potentially major implications for the U.S. payments market, Ingenico Group S.A. said it has agreed to be acquired by Worldline S.A. for cash and stock consideration totaling approximately $8.6 billion. The transaction, expected to close in the third quarter, …

  • 3 February

    Cornerstone Purchases Move Your Mountain and other Digital Transactions News briefs from 2/3/20

    Cornerstone Payment Systems announced the acquisition of Move Your Mountain, a crowd-funding platform. Terms were not disclosed.Digital cross-border payments provider Remitly Inc. launched Passbook by Remitly, a mobile app aimed at immigrants in the United States that features a no-fee account from Sunrise Banks N.A. and real-time transfers via Visa Inc.’s Visa Direct …

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