Mastercard to acquire DataCash for $520 million

Payment service provider MasterCard Inc on Thursday said it will acquire European rival DataCash Group Plc for $520 million in an effort to expand its e-commerce business.

Written by Press Trust Of India | Published:August 20, 2010 3:07 am

Payment service provider MasterCard Inc on Thursday said it will acquire European rival DataCash Group Plc for $520 million in an effort to expand its e-commerce business. Credit and debit-card processing network company MasterCard will buy DataCash at 360 pence a share,aggregating to $520 million,it said. “E-commerce represents an important part of MasterCard’s growth strategy and this acquisition will allow us to provide new services to our acquiring customers,as well as drive increased e-commerce penetration in both existing and new markets,” said MasterCard president and CEO Ajay Banga.

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