Fiserv makes monster $22B acquisition of First Data
January 22, 2019 by John Adams
Fiserv will acquire First Data in an all-stock deal with a value of about $22 billion that will combine two of the financial services industry’s largest technology and processing companies.
Fiserv shareholders will own almost 58% of the combined company, with First Data’s shareholders holding the rest. The acquisition is expected to close in the second half of 2019.
The combined company will be called Fiserv; and current Fiserv President and CEO Jeffery Yabuki will be CEO and chairman. Current First Data Chairman and CEO Frank Bisignano will be president and chief operating officer.
Both companies have been adding new technology to adjust to the expansion of digital financial services that have threatened traditional business models for companies that service financial transactions.
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