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IndustryUpdate

Visa aligns with Klarna Evertec finalizes PayGroup acquisition

Visa Inc. and Denmark-based Klarna Inc. formed an Evertec Inc. completed the acquisition of EFT Group
agreement involving a Visa equity investment in Klarna S.A., commercially known as PayGroup. Based in Chile,
and a future strategic partnership between the two com- PayGroup offers payment processing and software ser-
panies. Klarna is one of Europe's fastest growing online vices targeted primarily to financial institutions through-
payments companies, serving 60 million consumers and out Latin America. The purchase price was approximate-
70,000 retailers. "Visa is committed to partnering with a ly $38.5 million at current exchange rates.
new generation of partners and payment providers to
bring secure, online commerce to many more consumers First Data completes CardConnect merge
in Europe," said Jim McCarthy, Executive Vice President, First Data Corp. and CardConnect successfully com-
Innovation and Strategic Partnerships, Visa.
pleted First Data's tender offer to purchase the outstand-
ing shares of CardConnect common stock for $15 per
ACQUISITIONS share in cash. First Data also subsequently completed
the acquisition of the remaining CardConnect shares of
CM purchases Docdata Payments common stock not acquired in the tender offer through
a merger. CardConnect is now a wholly-owned subsid-
Netherlands mobile service provider CM acquired iary of First Data.
Docdata Payments from its American owner Ingram
Micro Inc. Docdata processes payments for European APPOINTMENTS
companies, mainly in the Netherlands, Luxembourg
and Belgium. Its 35 employees will be transferred to
CM. "Docdata Payments not only possesses a large and Huss appointed by Ingenico
diverse client portfolio, the infrastructure is also very
extensive with many languages and currencies," said Ingenico Group appointed Nicolas Huss as Executive
Jeroen van Glabbeek, CEO of CM. Vice President, Strategy and Performance. Huss brings

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