Visa To Acquire Forex Platform Currencycloud For £700M Cash

• Visa Inc V agreed to acquire Currencycloud, a global platform that enables banks and fintech to provide innovative foreign exchange solutions for cross-border payments. 


• The acquisition builds on an existing partnership between the two companies and values Currencycloud at £700 million, including cash and retention incentives.


• Currencycloud will strengthen Visa's existing foreign exchange abilities. 


• Currencycloud will accelerate the time-to-market and improve payment transparency for clients.


• Currencycloud will continue its operations from London headquarters and retain its current management team.


• Visa held $18.7 billion in cash and equivalents as of Mar. 31.


• Price action: V shares traded higher by 0.10% at $243.91 on the last check Thursday.

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