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Last deal for First Data carries late-cycle riskFiserv’s $22 bln all-stock acquisition of the transaction processor at a 30 pct premium comes with plenty of cost savings. Revenue synergies would be icing on the cake. But as with KKR’s toppy leveraged buyout of First Data in 2007, market turns can undermine M&A logic.
Source: Breakingviews - 🏆 470. / 51 Read more »
KKR scrapes second-rate return out of First DataAfter a long 12-year investment in the payment processor, a sale to Fiserv sets the stage for a profitable exit. It’s a wonder the $29 bln buyout survived the financial crisis, considering the debt and multiple CEOs. Anything better than breaking even amounts to a win.
Source: Breakingviews - 🏆 470. / 51 Read more »
Fiserv's $22 billion deal for First Data is one of the biggest in fintech history, and already some on Wall Street are warning of a culture warThe perceived revenue and cost-saving benefits from Finserv's acquisition of First Data may not be as simple as the two companies have purported.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Plaid Buys Quovo In Its First Major AcquisitionPlaid, the fintech that enables app developers to access customers' banking data, has made its first major acquisition of Quovo, which provides access to investment data to third-party developers.
Source: Forbes - 🏆 394. / 53 Read more »