News

Fiserv completes $22B First Data merger

July 30, 2019

The deal is done. Financial technology company Fiserv Inc. completed its $22 billion all-stock acquisition of New York's First Data Corporation on Monday. 

"The completion of this transformative combination is a major milestone in the evolution of our companies," Jeffery Yabuki, chairman and CEO at Fiserv, said in a news statement. "We are confident that our people are the best in the industry and will push the boundaries of excellence and innovation for the benefit of all of our stakeholders."

The two Fortune 500 companies first announced the deal in January after months of negotiations. Fiserv provides back-end processing for banks and credit unions while First Data is a leader in point-of-sale transactions. The merger gives Fiserv an end-to-end solution in the payments space and positions it as one of the largest merchant service platforms in the world.  

Yabuki will continue to lead the combined company as CEO and chairman of the board, while Frank Bisignano, chairman and CEO of First Data, will become president and COO.

Prior to the market opening on July 29, First Data shareholders received a tax-free 0.303 of a Fiserv share for each share of First Data common stock they owned. The combined company will carry the Fiserv brand and continue to trade on Nasdaq Global Select Market under the ticker symbol FISV.