Transaction Watch: February 27th - March 9th

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M&A Overview

M&A activity across the payments industry slows down this past couple weeks as new deal announcements become sparse. While activity shifts downward, there is one acquisition announcement that arose from this past week. Fifth Third announced their agreement to acquire Big Data Healthcare, a fintech provider for healthcare payments and remittance, for an undisclosed sum. With this acquisition, Firth Third is able to build upon and expand their digital payment solutions for the healthcare sector through the utilization of Big Data Healthcare’s unique offerings. Their core solution, FUSE, automates remittance reconciliation and facilitates approximately $1.7 billion in monthly payments. Separately, Thoma Bravo announced their completion of its $8 billion acquisition of Coupa Software. As a result of this deal, Coupa’s stock is now delisted from the Nasdaq and stockholders will receive $81 per share in cash. This deal was initially announced last December and includes a minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority.

In other M&A news, Visa was reportedly in acquisition talks with FIS according to individuals familiar with the matter. These reports suggest that Visa was exploring opportunities to acquire all or part of the business to significantly expand their presence across the industry. It is largely uncertain if these allegations are genuine.

You might also like…

• M&A Winter is Coming – Commentary by Jim Zipursky, Chairman & CEO of Corporate Finance Associates Worldwide, a Strategic M&A Partner of TSG.
• TSG Announces 2023 Top Performing Payment Gateways – TSG (The Strawhecker Group) is pleased to recognize a selection of payments companies for their exceptional performance across several key areas critical to a successful platform.
• Directory of U.S. Merchant Acquirers, sponsored by FIS – TSG’s most comprehensive report on U.S. merchant acquirers, featuring over 9,000 data points on more than 320 companies; covering national leaders to regional ISOs.
• Executive Interviews – we regularly sit down and discuss payments with executives throughout the payments ecosystem.
• TSG Services – need support? We support the industry with a unique combination of expertise, deep analytics, and unparalleled intelligence.