/Payments

Fintech News for Payments professionals

Fiserv completes combination with First Data

Source: Fiserv

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that it has completed its acquisition of First Data Corporation.

With the transaction complete, Fiserv is one of the world’s leading payments and financial technology providers with the ability to deliver unique value to financial institutions, corporate and merchant clients, and consumers.

“The completion of this transformative combination is a major milestone in the evolution of our companies,” said Jeffery Yabuki, Chairman and Chief Executive Officer, Fiserv. “We have continued to identify ways in which we can deliver differentiated value to clients, associates and shareholders, and are excited to work together on fulfilling the promise of the combination. We are confident that our people are the best in the industry and will push the boundaries of excellence and innovation for the benefit of all of our stakeholders.”

As a global leader in technology and payments that enables commerce, banking and the safe and secure movement of money, Fiserv has the breadth of capabilities and depth of expertise to deliver unmatched value to clients. As a result of the combination, clients will have access to a more comprehensive set of solutions and innovations, an extensive range of end-to-end capabilities and integrated delivery, which enable differentiated value for their customers.

“As a newly combined company, we will leverage our technology expertise and integrate our solutions to serve client needs in ways no one else can match,” said Frank Bisignano, President and Chief Operating Officer, Fiserv. “We are focused on innovating to enable our clients to better serve their customers and end users so they can succeed in a rapidly changing world.”

As previously announced, First Data shareholders will receive 0.303 of a Fiserv share for each share of First Data common stock they own prior to market open as of July 29, 2019. The all-stock transaction is intended to be tax-free to First Data shareholders. The combined company will carry the Fiserv brand and will continue to trade on The Nasdaq Global Select Market under the ticker symbol FISV. As of July 29, 2019, First Data common stock is no longer listed for trading on the New York Stock Exchange.
Contributed | what does this mean?
This content is contributed or sourced from third parties but has been subject to Finextra editorial review.

Comments: (0)

sponsored

Featured job
All Jobs »
London, UK

Sales Director, Private Equity Solutions (London, UK)

Competitive base, double ote, benefits, stock options

22 Jul