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TransactionWatch – Week of January 11th – January 15th

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M&A movement across the industry continued to play out this week with multiple notable transactions. First off, Visa has announced that they have called off their acquisition of Plaid. The deal, which was valued at $5.3 billion, was initially announced one year ago. The fallout of this acquisition was likely influenced by heavy pressure from the Department of Justice, who filed a suite to block the deal back in November. However, according to Visa’s press release, the deal could have been executed eventually, but the complexity of the litigation would have been too time consuming.

In other M&A news, NCR is remaining active this week as the company made an offer to acquire Cardtronics for $39.00 per share, which amounts to approximately $1.7 billion. Cardtronics is primarily an ATM operator with a global network of 285,000 ATMs across ten countries. NCR’s bid beats an offer made by Apollo Global Management and Hudson Capital made back in mid-December. Separately, Pineapple Payments announced today (Jan. 15th) their acquisition of 1st Payment Systems for an undisclosed sum. 1st Payment System is a provider of omni-channel payment solutions for ISVs focused in the powersports and healthcare verticals. This acquisition will leverage Pineapple’s Transax platform to further expand in the ISV space by creating more targeted solutions and direct sales channels.