- Visa Inc (NYSE: V) agreed to acquire Currencycloud, a global platform that enables banks and fintech to provide innovative foreign exchange solutions for cross-border payments.
- The acquisition builds on an existing partnership between the two companies and values Currencycloud at £700 million, including cash and retention incentives.
- Currencycloud will strengthen Visa’s existing foreign exchange abilities.
- Currencycloud will accelerate the time-to-market and improve payment transparency for clients.
- Currencycloud will continue its operations from London headquarters and retain its current management team.
- Visa held $18.7 billion in cash and equivalents as of Mar. 31.
- Price action: V shares traded higher by 0.10% at $243.91 on the last check Thursday.
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