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M&A activity across the payments industry slows down this past couple weeks as new deal announcements become sparse. While activity shifts downward, there is one acquisition announcement that arose from this past week. Fifth Third announced their agreement to acquire Big Data Healthcare, a fintech provider for healthcare payments and remittance, for an undisclosed sum. With this acquisition, Firth Third is able to build upon and expand their digital payment solutions for the healthcare sector through the utilization of Big Data Healthcare’s unique offerings. Their core solution, FUSE, automates remittance reconciliation and facilitates approximately $1.7 billion in monthly payments. Separately, Thoma Bravo announced their completion of its $8 billion acquisition of Coupa Software. As a result of this deal, Coupa’s stock is now delisted from the Nasdaq and stockholders will receive $81 per share in cash. This deal was initially announced last December and includes a minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority.
In other M&A news, Visa was reportedly in acquisition talks with FIS according to individuals familiar with the matter. These reports suggest that Visa was exploring opportunities to acquire all or part of the business to significantly expand their presence across the industry. It is largely uncertain if these allegations are genuine.
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