Mastercard to acquire financial insights provider Finicity for USD 825m.
BANKING AND CREDIT NEWS-June 25, 2020-Mastercard to acquire financial insights provider Finicity for USD 825m
(C)2020 M2 COMMUNICATIONS http://www.m2.com
Mastercard (NYSE: MA), a New York-based payments company, has announced it plans to acquire Salt Lake City based Finicity, a provider of financial data and insights for USD 825m, the company said.
Finicity's existing shareholders have the potential for an earn-out of up to an additional USD 160m, if performance targets are met.
The addition of Finicity's complementary technology and teams strengthens the existing Mastercard open banking platform to enable and safeguard a greater choice of financial services, reinforcing the company's long-standing partnerships with and commitment to financial institutions and fintechs...
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