Visa Buys Currencycloud in Deal Valued at $960 Million
22 Julho 2021 - 6:45AM
Dow Jones News
By Adam Clark
Visa Inc. said Thursday that it has agreed to acquire
Currencycloud, a London-based provider of technology for
cross-border payments, in a deal valuing the target at 700 million
pounds ($960.1 million).
Currencycloud's platform allows banks and financial-services
providers to offer currency-exchange services. Visa participated in
an $80 million funding round for the company last year.
"With our acquisition of Currencycloud, we can support our
clients and partners to further reduce the pain points of
cross-border payments and develop great user experiences for their
customers," said Colleen Ostrowski, Visa's Global Treasurer.
Currencycloud will continue to be based in London and maintain
its current management team, the companies said. The deal is
subject to regulatory approval.
Write to Adam Clark at adam.clark@wsj.com
(END) Dow Jones Newswires
July 22, 2021 05:42 ET (09:42 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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