Fiserv Enhances Its Embedded Finance Solutions by Closing the Acquisition of Payfare
Fiserv (NYSE: FI) has completed its acquisition of Payfare Inc. (TSX:PAY), a program management solutions provider focused on new economy workforces. The acquisition, valued at C$193,149,036 (C$4.00 per share), strengthens Fiserv's embedded finance capabilities.
Through this transaction, Fiserv acquired all 48,287,259 outstanding Payfare shares, increasing its ownership from 0% to 100%. The integration brings Payfare's card program management and white-label consumer application expertise together with Fiserv's processing, bank ledgers, and integrated value-added services, creating a comprehensive solution for embedded banking, payments, and lending.
Following the acquisition, Payfare's co-founders and employees have joined Fiserv. Payfare shares will be delisted from TSX and OTCQX, and the company will cease to be a reporting issuer.
Fiserv (NYSE: FI) ha completato l'acquisizione di Payfare Inc. (TSX:PAY), un fornitore di soluzioni per la gestione dei programmi focalizzato sulle forze lavoro della nuova economia. L'acquisizione, valutata C$193.149.036 (C$4,00 per azione), rafforza le capacità di finanza integrata di Fiserv.
Attraverso questa transazione, Fiserv ha acquisito tutte le 48.287.259 azioni ordinarie di Payfare, aumentando la sua partecipazione dallo 0% al 100%. L'integrazione unisce l'esperienza di Payfare nella gestione dei programmi di carte e delle applicazioni consumer white-label con il processing, i registri bancari e i servizi a valore aggiunto integrati di Fiserv, creando una soluzione completa per il banking integrato, i pagamenti e il lending.
Dopo l'acquisizione, i co-fondatori e i dipendenti di Payfare si sono uniti a Fiserv. Le azioni di Payfare saranno rimosse dalla TSX e dall'OTCQX, e l'azienda cesserà di essere un emittente di reportistica.
Fiserv (NYSE: FI) ha completado su adquisición de Payfare Inc. (TSX:PAY), un proveedor de soluciones de gestión de programas enfocado en las fuerzas laborales de la nueva economía. La adquisición, valorada en C$193,149,036 (C$4.00 por acción), fortalece las capacidades de finanzas integradas de Fiserv.
A través de esta transacción, Fiserv adquirió todas las 48,287,259 acciones en circulación de Payfare, aumentando su propiedad del 0% al 100%. La integración une la experiencia de Payfare en la gestión de programas de tarjetas y aplicaciones de consumo de etiqueta blanca con el procesamiento, los libros contables y los servicios de valor agregado integrados de Fiserv, creando una solución integral para la banca integrada, los pagos y los préstamos.
Tras la adquisición, los cofundadores y empleados de Payfare se han unido a Fiserv. Las acciones de Payfare serán eliminadas de la TSX y OTCQX, y la empresa dejará de ser un emisor de informes.
Fiserv (NYSE: FI)는 새로운 경제 인력에 초점을 맞춘 프로그램 관리 솔루션 제공업체인 Payfare Inc. (TSX:PAY)의 인수를 완료했습니다. C$193,149,036 (주당 C$4.00)로 평가된 이번 인수는 Fiserv의 임베디드 금융 역량을 강화합니다.
이번 거래를 통해 Fiserv는 Payfare의 모든 48,287,259주를 인수하여 소유 지분을 0%에서 100%로 증가시켰습니다. 통합을 통해 Payfare의 카드 프로그램 관리 및 화이트 라벨 소비자 애플리케이션 전문성이 Fiserv의 처리, 은행 장부 및 통합 가치 추가 서비스와 결합되어 임베디드 뱅킹, 결제 및 대출을 위한 종합 솔루션을 만듭니다.
인수 후, Payfare의 공동 창립자와 직원들이 Fiserv에 합류했습니다. Payfare의 주식은 TSX 및 OTCQX에서 상장 폐지되며, 회사는 보고 의무를 중단하게 됩니다.
Fiserv (NYSE: FI) a finalisé l'acquisition de Payfare Inc. (TSX:PAY), un fournisseur de solutions de gestion de programmes axé sur les forces de travail de la nouvelle économie. L'acquisition, évaluée à C$193.149.036 (C$4,00 par action), renforce les capacités de finance intégrée de Fiserv.
Grâce à cette transaction, Fiserv a acquis toutes les 48.287.259 actions en circulation de Payfare, augmentant sa participation de 0 % à 100 %. L'intégration réunit l'expertise de Payfare en gestion de programmes de cartes et d'applications consommateurs en marque blanche avec le traitement, les livres bancaires et les services à valeur ajoutée intégrés de Fiserv, créant une solution complète pour la banque intégrée, les paiements et le prêt.
Suite à l'acquisition, les cofondateurs et employés de Payfare ont rejoint Fiserv. Les actions de Payfare seront retirées de la TSX et de l'OTCQX, et l'entreprise cessera d'être un émetteur de rapports.
Fiserv (NYSE: FI) hat die Übernahme von Payfare Inc. (TSX:PAY), einem Anbieter von Programmmanagementlösungen, der sich auf Arbeitskräfte der neuen Wirtschaft konzentriert, abgeschlossen. Die Übernahme, die mit C$193.149.036 (C$4,00 pro Aktie) bewertet wird, stärkt die Embedded-Finance-Fähigkeiten von Fiserv.
Durch diese Transaktion erwarb Fiserv alle 48.287.259 ausstehenden Payfare-Aktien und erhöhte seinen Anteil von 0 % auf 100 %. Die Integration vereint die Expertise von Payfare in der Kartenprogrammverwaltung und der White-Label-Verbraucheranwendung mit den Verarbeitungs-, Bankbuch- und integrierten Mehrwertdiensten von Fiserv und schafft eine umfassende Lösung für eingebettetes Banking, Zahlungen und Kredite.
Nach der Übernahme sind die Mitbegründer und Mitarbeiter von Payfare zu Fiserv gewechselt. Die Aktien von Payfare werden von der TSX und OTCQX delistet, und das Unternehmen wird aufhören, ein berichtspflichtiger Emittent zu sein.
- Complete acquisition strengthens embedded finance capabilities
- Adds complementary card program management solutions
- Integration creates comprehensive embedded banking solution
- Expands new economy workforce solutions
- C$193.1M cash expenditure for acquisition
Insights
Fiserv's acquisition of Payfare for
The deal significantly bolsters Fiserv's vertical integration strategy by adding card program management and white-label consumer application capabilities to its existing embedded financial solutions. This vertical stack completion allows Fiserv to offer comprehensive end-to-end solutions combining processing, bank ledgers, and integrated value-added services with Payfare's program management expertise.
Acquisitions in the embedded finance space typically command premium valuations due to their high-growth potential and strategic positioning at the intersection of traditional finance and new economy workforces. For Fiserv, this move addresses a specific capability gap while potentially accelerating its penetration into the rapidly expanding gig economy sector where financial services integration presents substantial revenue opportunities.
The transaction structure as a complete buyout with subsequent delisting from TSX and OTCQX indicates Fiserv's intention to fully integrate Payfare's operations rather than maintaining it as a standalone subsidiary, suggesting confidence in immediate operational synergies rather than just strategic positioning.
This acquisition complements Fiserv’s existing embedded financial solutions with card program management and a white-label consumer application. Payfare’s offerings, combined with Fiserv’s strengths in processing, bank ledgers and integrated value-added services, provide a complete solution for embedded banking, payments and lending.
Early Warning Reporting
Further to the requirements of National Instrument 62-104 Take-Over Bids and Issuer Bids and National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, 1517452 B.C. LTD. (the “Purchaser”), a wholly owned subsidiary of Fiserv, will file an early warning report in accordance with applicable Canadian securities laws. A copy of this early warning report will be made available under Payfare's profile on SEDAR+ at www.sedarplus.ca.
Pursuant to the plan of arrangement, the Purchaser acquired 48,287,259 Shares, then representing all of the issued and outstanding shares of Payfare, for a price of
As a result of the completion of the arrangement, the Purchaser acquired all of the issued and outstanding Payfare shares. The Payfare shares will cease to be listed on the TSX and to be quoted on the OTCQX. The Purchaser intends to apply for Payfare to cease to be a reporting issuer.
About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.
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For more information contact:
Media Relations:
Melissa Moritz
Vice President, External Communications
Fiserv, Inc.
+1.516.410.1188
melissa.mortiz@fiserv.com
Investor Relations:
Julie Chariell
Senior Vice President, Investor Relations Fiserv, Inc.
+1.212.515.0278
julie.chariell@fiserv.com
Source: Fiserv, Inc.
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