Deal Thoughts – First Data Acquires CardConnect

Earlier today, First Data, a global leader in payment processing announced that it had entered into an agreement to acquire CardConnect, an innovative provider of payment processing technology for $750,000,000. This transaction comes less than ten months after CardConnect’s acquisition by FinTech Acquisition Corp., a Special Purpose Acquisition Company (SPAC), for $438,000,000, which took CardConnect public in August of 2016.

This is an especially interesting deal as it further supports KoreFusion’s observations about the evolving payment service provider/payment processing industry.  In particular, it is illustrative of 3 trends we see shaping the industry going forward:

If you would like to discuss KoreFusion’s perspectives on the payment service provider/payment processing sector, other implications of this deal on this industry, or the opportunities available through SPAC transactions, please feel free to reach out at information@korefusion.com.

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