July 21, 2016Blog Posts

Mastercard Buys Most of Britain’s VocaLink for $920 Million

Bloomberg:

Mastercard Inc. agreed to buy a controlling stake in VocaLink Holdings Ltd., the payments processor that handles most payroll and household bill processing in the U.K. Mastercard will pay about 700 million pounds ($920 million) for 92.4 percent of the London-based firm, the acquiring company said Thursday in a statement. VocaLink’s existing shareholders, which include 13 banks and building societies, will retain 7.6 percent ownership and can receive as much as 169 million pounds more if performance targets are met.

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