First Data to Acquire CardConnect


First Data Corporation(NYSE: FDC), a global leader in commerce enabling technology and solutions, and CardConnect Corp.(NASDAQ: CCN), a technology- oriented commerce solutions provider, announced todaythat they have entered into a definitive merger agreementforFirst Data to acquire all of the outstanding shares of common stock of CardConnect for $15.00 per share in cash.
The transaction is expected to be modestly accretive to First Data’s adjusted EPS in the first full year post -closing, before expected synergies.CardConnect is an innovative provider of payment processing and technology solutionsand is one of First Data’s largest distribution partners. It processes approximately $26 billion of volume annually from about 67,000 merchant customers which are served by CardConnect’s large base of distribution partners.
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