Deals
Fiserv to Buy First Data for $22 Billion, Forging Payments Giant
- KKR gains 12 years after taking First Data private in LBO
- The combined firm will be biggest payments processor
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Fiserv will acquire First Data Corp. for $22 billion in a payments processing deal that marks one of the biggest financial mergers in a decade and a win for private-equity giant KKR & Co.
The deal will create the world’s largest payment processor amid a wave of consolidation in that industry, which faces threats from startups such as Square Inc. and Adyen NV. The all-stock transaction values First Data at a 29 percent premium to Tuesday’s closing price.