Two of the nation’s biggest financial technology companies are combining in a $22 billion merger that could have major ramifications for metro Atlanta.
Wisconsin-based Fiserv announced Wednesday it will acquire Sandy Springs-based First Data in an all-stock transaction that will create a behemoth in the world of payments processing.
Fiserv and First Data aren’t household names for most consumers, but the two companies help make electronic payments possible, whether it be with the swipe of a debit or credit card or for purchases online. The companies serve banks and merchants across the globe.
“Through this transformative combination, we expect to redefine the manner in which people and institutions move money and information,” Jeffery Yabuki, Fiserv president and CEO, said in a news release announcing the deal.