POS system and credit card processing system First Data Corporation has agreed to sell 64 million shares of Class A common stock.
In addition, First Data has given the underwriters a 30-day option to purchase up to 9.6 million additional Class A common stock. The company will receive all proceeds from the offering.
Citigroup, BofA Merrill Lynch, PNC Capital Markets LLC, Wells Fargo Securities, Deutsche Bank Securities and KKR Capital Markets are serving as joint bookrunning managers for the offering.
First Data is a global payments processor which supports small businesses, multi-nationals, and financial institutions with their transactions. Through the platform, a business can accept all types of transactions including chip and pin and contactless.
A variety of payment terminals are on offer including card machines, mini payment terminals, a mobile solution, and a payment station which also offers inventory tracking and other services – E-commerce payment services are also available.
Late last year, First Data took part in the $6.1m investment into digital payment solution Payrailz, a company which uses AI and open APIs to automate payment tasks.
In 2017, First Data also acquired payment processor CardConnect in a deal worth around $750m. The company completed the deal as part of its strategic initiative of integrating ‘state-of-the-art’ solutions to its platform.
Earlier in the week, fellow POS developer Payworks partnered with Bambora to develop a new integrated and international POS solution. Bambora Connect will allow SMEs to accept card transactions in a range of European currencies.
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