Fiserv buys First Data for 22B creating fintech giant

first_imgNEW YORK — Fiserv is buying First Data in a $22 billion all-stock deal, creating a giant player in the payments and financial technology sector.First Data shareholders will receive about .30 shares of Fiserv for every share of First Data they own, according to the deal announced Wednesday, a premium of about 29 per cent.The deal will leave Fiserv shareholders with 57.5 per cent of the combined company. First Data shareholders will own the remaining 42.5 per cent.Fiserv, based in Brookfield, Wisconsin, specializes in financial services technology related to electronic payments and processing. First Data, based in New York, says it facilitates $2.4 trillion in transactions each year.The deal was approved by the boards of both companies and is expected to close in the second half of the year, pending regulatory approval.The Associated Presslast_img