BUZZ-Fiserv to buy Canadian firm Payfare in $140 mln deal; shares slide

Reuters
2024-12-24
BUZZ-Fiserv to buy Canadian firm Payfare in $140 mln deal; shares slide

** Shares of U.S. fintech firm Fiserv FI.N edge lower ~0.6% to $204.95

** Fiserv will buy Canada's fintech firm Payfare PAY.TO in a C$201.5 million ($140 million) deal

** The transaction, expected to close in the first half of 2025, values Payfare's stock at a 90% premium to last closing price

** Deal could also mark one of the final undertakings by Fiserv CEO Frank Bisignano, who has been picked by President-elect Donald Trump to head the Social Security Administration

** Including session's move, stock is up ~54.2% YTD

(Reporting by Jaiveer Singh Shekhawat in Bengaluru)

((JaiveerSingh.Shekhawat@thomsonreuters.com;))

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