Stock Monitor: Acacia Research Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 30, 2018 / If you want access to our free research report on First Data Corp. (NYSE: FDC), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=FDC as the Company's latest news hit the wire. On May 25, 2018, the Company announced that is has inked a deal with SIA, which is a European high-tech leader in payment infrastructure and services, pursuant to which SIA will acquire First Data's card processing businesses in parts of Central and Southeastern Europe for approximately €375 million. In 2017, these businesses generated a combined revenue of approximately €100 million for First Data. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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The deal is likely to close in Q3 2018, and is subject to normal closing conditions. Deutsche Bank and K&L Gates were financial advisors and counsel, respectively, to First Data on the transaction. HSBC acted as financial advisor while White & Case was the legal advisor to SIA.
This acquisition by SIA provides card processing, card production, call center, and back-office services, including 13.3 million payment cards and 1.4 billion transactions, in addition to the management of POS terminals and ATMs. These businesses are primarily located in 7 countries, namely Greece, Croatia, Czech Republic, Hungary, Romania, Serbia, and Slovakia. As a result of the transaction, SIA will become a leading player in processing and services in the region. The agreement includes the transfer of about 1,400 First Data employees into SIA.
First Data remains highly committed to the European issuer processing business, maintaining its focus on serving its significant client base, primarily with its leading VisionPLUS platform.
SIA's Integrated Payment Infrastructure and Presence across Europe make it the Perfect Home for First Data's Businesses
Commenting on the acquisition, Frank Bisignano, Chairman and Chief Executive Officer (CEO) of First Data, stated that this transaction aligns with the Company's focus on portfolio management. While these are solid businesses, aspects of their operations are no longer core to First Data's strategy, and this sale allows the Company to deploy the proceeds to create value in-line with its capital allocation priorities. Bisignano added that First Data believes that it has have found an excellent partner for this transaction as SIA's integrated payment infrastructure, service offerings, and presence across Europe make it the perfect home for these businesses and puts the Company's former customers in capable hands.
First Data's Last Acquisition Deal
In December 2017, the Company successfully completed its acquisition of BluePay Holdings, Inc. from BluePay's current owners, including TA Associates and BluePay management, which is a provider of technology-enabled payment processing for merchants in the US and Canada. The financial details of the transaction remained undisclosed.
SIA is European leader in the design, creation, and management of technology infrastructures and services for financial institutions, central banks, corporates, and public sector; in the areas of payments, cards, network services, and capital markets. SIA Group provides its services in 48 countries. The Group is made up of eight companies, namely the parent SIA; the Italian companies Emmecom, P4cards, SIApay, and Ubiq; Perago in South Africa, PforCards in Austria, and SIA Central Europe in Hungary.
About First Data Corp.
Founded in 1971 and headquartered in Atlanta, Georgia, First Data is a global leader in commerce-enabling technology, serving around six million business locations and 4,000 financial institutions in more than 100 countries around the world. The Company's 22,000 owner-associates are dedicated to helping companies, from start-ups to the world's largest corporations.
Stock Performance Snapshot
May 29, 2018 - At Tuesday's closing bell, First Data's stock dropped 1.35%, ending the trading session at $19.02.
Volume traded for the day: 6.05 million shares.
Stock performance in the last month – up 24.48%; previous three-month period – up 22.79%; past twelve-month period – up 14.30%; and year-to-date - up 13.82%
After yesterday's close, First Data's market cap was at $17.88 billion.
Price to Earnings (P/E) ratio was at 15.25.
The stock is part of the Services sector, categorized under the Business Services industry.
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