Click here to read TransactionWatch | Subscribe to TransactionWatch
This Week’s M&A Overview
The ongoing battle between Mastercard and Visa continued to take shape this week with Mastercard’s announcement to acquire Finicity for a total consideration of $985 million. Mastercard’s acquisition of Finicity follows Visa’s recent acquisition of Plaid for $5.3 billion, which was announced in February of this year. Both Finicity and Plaid offer similar core technologies, further suggesting that Mastercard and Visa are maintaining comparable strategies as the evolution of digital payments continues to progress. Both of their recent acquisitions help aid in their goal to diversify their business beyond payment card transactions, and further into the integration of fintech providers and emerging technologies in this space.
In other M&A news, it was announced this week that Ally Financial and CardWorks called off their merger agreement, stating that COVID-19 has disrupted the economic environment to further carry out the deal. Announced in February, this deal between the two firms was valued at approx. $2.65 billion.
The post TransactionWatch – Week of June 22nd – June 26th appeared first on The Strawhecker Group.