Monday , December 23, 2024

Mergers & Acquisitions

April, 2009

  • 1 April

    FIS’s Metavante Acquisition To Create a Processing Powerhouse

    Fidelity National Information Services Inc. (FIS) will buy Metavante Technologies Inc. in a $2.94 billion all-stock deal announced on Wednesday. The acquisition will create a bank- and payments-processing giant with $5 billion in combined revenue and a vast array of products in everything from core banking services to credit, debit, …

November, 2008

  • 5 November

    First Data-InComm Deal Appears To Be Casualty of Economic Tailspin

    A slumping economy appears to have been what scuttled First Data Corp.’s deal to buy prepaid card program manager InComm Corp. The agreement, announced in April (Digital Transactions News, April 29), involved transaction-processing giant First Data acquiring Atlanta-based InComm for $980 million, with a further payout of $250 million over …

November, 2007

  • 20 November

    Did Buyer’s Remorse at Cap One Sink the $700 Million NetSpend Deal?

    Though Capital One Financial Corp. and prepaid card manager NetSpend Holdings Inc. late on Monday said they had “mutually agreed” to call off Cap One’s planned $700 million cash acquisition of NetSpend, the move may have been a consequence of the deal’s hefty price tag, says an analyst who follows …

September, 2007

  • 25 September

    It’s Labry up And Bailis out As KKR Completes Its First Data LBO

    It wasn’t just another Monday for processor First Data Corp. The company started its new life as a private company by completing its widely watched, $29 billion leveraged buyout, and it installed a new management team under new chairman and chief executive Michael D. Capellas. Edward Labry, the head of …

August, 2007

  • 8 August

    Cap One Extends Debit Reach with $700 Million NetSpend Deal

    Capital One Financial Corp.’s decision to buy prepaid card processor NetSpend Corp. comes at a time when the network-branded prepaid card market is rapidly expanding and close on the heels of Cap One’s market-changing move into debit cards that can be held by consumers with accounts at any bank (Digital …

July, 2007

  • 31 July

    As Shareholders Okay KKR Deal, FDC Insists Buyout Is on Track

    Amid reports about tightening credit, First Data Corp. shareholders today approved the $29 billion sale of their company to private-equity firm Kohlberg Kravis Roberts & Co. According to a First Data release, more than 98% of the shares cast voted in favor of the buyout. Shareholders will get $34.00 in …

May, 2007

  • 31 May

    Could the Ceridian Deal Lead to a Comdata-Certegy Combo?

    The move by Ceridian Corp., owner of fast-growing payment processor Comdata Corp., to go private in a deal involving Boston-based Thomas H. Lee Partners LLC and insurance-industry processor Fidelity National Financial Inc. represents the latest in a series of processor deals backed by private equity and could lead to yet …

  • 22 May

    End of 50-Day Go-Shop” Period Leaves KKR As Sole First Data Suitor”

    The proposed $29 billion buy-out of leading payment processor First Data Corp. by private-equity firm Kohlberg Kravis Roberts & Co. cleared another hurdle on Tuesday when First Data reported that its 50-day “go-shop” period had ended without netting any competing bids.n n In announcing the buyout in early April, First …

April, 2007

  • 2 April

    ‘Barbarians’ Get Set to Take over First Data in a $29 Billion Buyout

    The leveraged-buyout craze caught up with the electronic-payment processing industry on Monday when No. 1 processor First Data Corp. announced it had struck a $29 billion deal to be acquired by investment firm Kohlberg Kravis Roberts & Co. Under the plan approved by Greenwood Village, Colo.-based First Data’s board of …

January, 2005

  • 11 January

    GTCR Will Keep Its Grip on VeriFone Even After the Proposed IPO

    VeriFone Inc. will continue to be controlled by GTCR Golder Rauner LLC, a Chicago-based private equity firm, and its current chief executive, Douglas Bergeron, will continue to be a major shareholder even after the San Jose, Calif.-based point of sale terminal maker completes its proposed initial public offering of stock. …

Digital Transactions