Fiserv has inked a mega deal of $22 billion acquisition of all-stock deal to buy First Data to create a payments and fintech behemoth. Under the agreement, First Data shareholders will receive a fixed exchange ratio of 0.303 Fiserv shares for each share of First Data common stock they own. The transaction is expected to close in the second half of the year, subject to shareholder and regulatory approval. Fiserv shareholders will own 57.5% of the combined company and First Data shareholders 42.5%. Followed by this mega deal announcement, the shares of First Data started soaring more than 20% in pre-market trading, while Fiserv saw a six per cent dip. With this deal signed by the two majors players in the fintech industry, the combination entity will offer a range of payments and financial services, including account processing and digital banking solutions; card issuer processing and network services; e-commerce; integrated payments; and the Clover cloud-based point-of-sale syst
