May 30, 2017Blog Posts

First Data acquires CardConnect

Finextra:

First Data is to acquire payment processor CardConnect for $750 million in cash. CardConnect – which processes approximately $26 billion of volume annually from about 67,000 merchant customers – went public last year when it was acquired by FinTech Acquisition Corporation. The company posted revenues of $589 million last year but turned in a loss of $16 million.

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