Fiserv acquires Payfare for $140.2M to boost services for gig workers, marking a 92% stock premium.

Fiserv, a US payments tech company, is acquiring Vancouver-based digital banking firm Payfare for C$201.5 million ($140.2 million) to expand its services for gig workers. The deal, subject to approvals, aims to enhance Fiserv's embedded finance solutions and is expected to close in the first half of next year. Payfare's stock has been under pressure since withdrawing its annual guidance in September. The acquisition price is a 92% premium over the 60-day average trading price.

3 months ago
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