Visa To Acquire Forex Platform Currencycloud For £700M Cash – Benzinga

Visa To Acquire Forex Platform Currencycloud For £700M Cash

  • Visa Inc (NYSE: Vagreed 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.

Leave a Reply

Your email address will not be published. Required fields are marked *