Vantiv offers Worldpay a deal valued at $10 Billion
Worldpay Group, the British payment processing company, said on Wednesday that it had agreed in principle to be acquired by Vantiv, an American rival, for 7.7 billion pounds. The transaction, valued at about $10 billion, is one of the most significant in the field since the financial crisis. Payment processing has become increasingly important for financial institutions as more people shop online and move money using cellphones or other digital devices. Worldpay disclosed on Tuesday that it had received takeover approaches from both Vantiv and JPMorgan Chase, an announcement that sent its shares 23 percent higher. Shortly after the deal was announced on Wednesday, JPMorgan said it did not intend […]
European fintech deals hit 5-year high in 2016
Europe’s advantage in financial technology has been highlighted by figures showing fintech deals hit a five-year high on the continent in 2016, defying the global trend of a slight decline. The number of deals in European fintech rose 11 per cent to 179 in 2016, compared to a 1 per cent global drop, according to the data analytics company CBInsights. Germany and the UK dominated, staking claim to nine out of the 10 biggest European fintech deals. The deals grew 124 per cent compared with 2011’s total, in contrast to an 8 per cent drop-off in deal activity in the US to 422 deals — identical to 2014 levels, the […]
