M&A Deal Summary

Discover Acquires PULSE payments network

On November 15, 2004, Discover acquired financial services company PULSE payments network for 311M USD

Acquisition Highlights
  • This is Discover’s 1st transaction in the Financial Services sector.
  • This is Discover’s 2nd largest (disclosed) transaction.
  • This is Discover’s 1st transaction in the United States.
  • This is Discover’s 1st transaction in Texas.

M&A Deal Summary

Date 2004-11-15
Target PULSE payments network
Sector Financial Services
Buyer(s) Discover
Deal Type Add-on Acquisition
Deal Value 311M USD

Target

PULSE payments network

Houston, Texas, United States
PULSE is one of the nation's leading ATM/debit networks currently serving more than 4,100 banks, credit unions and savings institutions across the country. The network links an estimated 90 million cardholders with more than 250,000 ATMs and 3.3 million POS terminals at retail locations nationwide. In recent years, PULSE has become known as a valued resource for consumer research related to EFT services and an effective national voice on public policy issues relevant to the financial services industry. For more information, visit www.pulse-eft.com.

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Buyer(S) 1

Buyer

Discover

Riverwoods, Illinois, United States

Category Company
Founded 1960
Sector Financial Services
Employees20,200
Revenue 13.3B USD (2022)
DESCRIPTION
Discover Financial's corporate headquarters in Riverwoods, Illinois.
Discover Financial's corporate headquarters in Riverwoods, Illinois.

Discover is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. The Company issues the Discover card and offers home loans, private student loans, personal loans, home equity loans, checking and savings accounts, certificates of deposit and money market accounts through its direct banking business. Discover was founded in 1960 and is incorporated in Riverwoods, Illinois.


DEAL STATS #
Overall 1 of 5
Sector: Financial Services M&A 1 of 5
Type: Add-on Acquisition M&A Deals 1 of 3
State: Texas M&A 1 of 1
Country: United States M&A 1 of 5
Year: 2004 M&A 1 of 1
Size (of disclosed) 2 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-07 Diners Club International

Chicago, Illinois, United States

Established in 1950, Diners Club International became the first multi-purpose charge card in the world, launching a financial revolution in how consumers and companies pay for products and services. Today, Diners Club is a globally recognized brand serving the payment needs of select and affluent consumers, offering access to more than 500 airports lounges worldwide, and providing corporations and small business owners with a complete array of expense management solutions. With acceptance in more than 185 countries and territories, millions of merchant locations and access to more than 1 million cash access locations and ATMs, Diners Club is uniquely qualified to serve its cardmembers all over the world.

Buy $165M