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July 24, 2021TransactionWatch

TransactionWatch – Week of July 19th – July 23rd

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Substantial traction on the M&A front continues to make headway in the merchant acquiring industry as we further progress into the third quarter. To start, Visa announced yesterday (July 22nd) their definitive agreement to acquire Currencycloud in a deal valued at approximately $963 million (£700 million), inclusive of cash and retention incentives. This deal comes on the heals of Visa’s $2.2 billion acquisition of Tink announced just last month. Their transaction of Currencycloud helps support Visa’s existing foreign exchange solutions and further positions them on their overarching network of networks strategy. Separately, Bill.com is remaining active in M&A activity with their deal to acquire Invoice2go for approximately $625 million, of which 75% will be paid in common stock with the remaining 25% paid in cash. Bill.com recently announced their deal to acquire Divvy for $2.5 billion back in May of this year.

In other M&A news, GreenBox POS marked their third acquisition of this year with their announced to acquire Transact Europe for approximately $35 million. With this acquisition, GreenBox is able to expand their product offerings and gain access the European market through Transact’s existing payment processing licensing. Lastly, Klarna has acquired the German online shopping platform Stocard in a deal reportedly valued at approximately $133 million.

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