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Market Overview

Fiserv To Acquire Fintech Firm Pineapple Payments For Undisclosed Sum

  • Payments technology company Fiserv Inc (NASDAQ: FISVinked an agreement to acquire payments technology provider Pineapple Payments from PSG equity firm. 
  • The financial terms of the deal were not disclosed.
  • Pineapple will join Fiserv’s Global Business Solutions division as part of the Partner Solutions business unit.
  • Pineapple completed seven acquisitions after partnering with PSG in 2017.
  • Pineapple’s arrangement will offer simple, secure, and scalable payment solutions to its merchants, as per CEO Brian Shanahan.
  • Fiserv held cash and cash equivalents of $906 million as of Dec. 31, 2020.
  • Price action: FISV shares are trading higher by 1.22% at $122.22 in the premarket session on the last check Wednesday.

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Posted-In: Fintech M&A News Tech Media