M&A Deal Summary

First Data Acquires CardConnect

On May 29, 2017, First Data acquired financial services company CardConnect for 750M USD

Acquisition Highlights
  • This is First Data’s 6th transaction in the Financial Services sector.
  • This is First Data’s 4th largest (disclosed) transaction.
  • This is First Data’s 16th transaction in the United States.
  • This is First Data’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2017-05-29
Target CardConnect
Sector Financial Services
Buyer(s) First Data
Deal Type Add-on Acquisition
Deal Value 750M USD
Advisor(s) Financial Technology Partners - FT Partners (Financial)
Wachtell, Lipton, Rosen & Katz (Legal)

Target

CardConnect

King of Prussia, Pennsylvania, United States
CardConnect is a provider of payment processing and technology solutions, helping organizations from independent coffee shops to iconic global brands – accept billions of dollars in card transactions each year. CardConnect was formed in 2006 and is based in King of Prussia, Pennsylvania.

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Buyer(S) 1

Buyer

First Data

Atlanta, Georgia, United States
Category Company
Founded 1989
Sector Financial Services
Employees24,000
Revenue 8.7B USD (2018)
DESCRIPTION
First Data's corporate headquarters in Atlanta, Georgia.
First Data's corporate headquarters in Atlanta, Georgia.

First Data is a provider of electronic commerce and payment solutions for merchants, financial institutions and card issuers. First Data was formed in 1989 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 19 of 23
Sector (Financial Services) 6 of 8
Type (Add-on Acquisition) 16 of 20
State (Pennsylvania) 1 of 1
Country (United States) 16 of 17
Year (2017) 2 of 3
Size (of disclosed) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-16 Acculynk

Atlanta, Georgia, United States

Acculynk is an Atlanta-based technology company that delivers eCommerce solutions for debit card acceptance. Acculynk’s unique debit routing technology allows merchants to process online debit payments through the most cost-effective available debit network, helping merchants reduce their total cost of acceptance.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-20 BluePay

Naperville, Illinois, United States

BluePay is a provider of technology-enabled credit card payment processing services for enterprise, small and medium-sized businesses in the United States and Canada. BluePay Processing is based in Naperville, Illinois.

Buy $760M
Mergr

Product

Company

Legal