Visa and financial technology company Plaid said on Tuesday that they would terminate their $5.3 billion merger agreement following a U.S. government lawsuit aimed at stopping the proposed

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28 Oct 2020 Why Does It Matter: Visa announced early this year that it had agreed to acquire Plaid for $5.3 billion — at nearly twice its valuation. Those 

Visa CEO Al Kelly had this to say about the acquisition: Plaid is a leader in the fast growing fintech world with best-in-class capabilities and talent. 2020-12-02 · Both Plaid’s investors and Visa’s investors stand to benefit from the proposed deal. Visa is willing to pay $5.3 billion because it stands to lose even more money if Plaid emerges as a viable 2020-11-05 · The U.S. Department of Justice hit Visa () with an antitrust lawsuit on Thursday over the payment processor's planned acquisition of Plaid.. In January, Visa announced plans to acquire the fintech The U.S. Justice Department sued to block Visa Inc.’s $5.3 billion acquisition of Plaid Inc., accusing Visa of trying to buy the financial-technology firm to eliminate an emerging threat to its Visa and financial technology company Plaid said on Tuesday that they would terminate their $5.3 billion merger agreement following a U.S. government lawsuit aimed at stopping the proposed On Tech News Weekly, Jason Howell & Mikah Sargent talk to Alex Wilhelm of TechCrunch about the failed deal between Visa and Plaid and the events leading DOJ: Plaid-Visa ‘Must Be Stopped’ The Visa acquisition came out in January 2020. And in November, the Department of Justice filed suit to block the acquisition.

Visa plaid acquisition

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And in November, the Department of Justice filed suit to block the acquisition. The DOJ surmised that Visa was buying Plaid to take a competitor off the field. And, more damningly, to kill a burgeoning (and threatening) industry in the cradle. US moves to block Visa’s acquisition of online payments platform Plaid.

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The DOJ surmised that Visa was buying Plaid to take a competitor off the field. And, more damningly, to kill a burgeoning (and threatening) industry in the cradle.

“Visa strongly disagrees with the Department of Justice (DOJ), whose attempt to block Visa’s acquisition of Plaid is legally flawed and contradicted by the facts. This action reflects a lack of understanding of Plaid’s business and the highly competitive payments landscape in which Visa operates.

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6 nov. 2020 — The Department of Justice has filed an anti-trust suit asking a court to block Visa's pending acquisition of Plaid, a payments-focused fintech firm  5 nov. 2020 — Visa Inc. (NYSE:V) issued the following statement today regarding its planned acquisition of Plaid: “Visa strongly disagrees with the Department  Igår talade vi med Plaid VD och medgrundare Zach Perret efter nyheter bröt det Visa planerar inte längre att köpa sitt företag för 5.3 miljarder dollar.
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| Crowdfund Insider: Global Fintech News, including Crowdfunding,  6 Nov 2020 The federal government is suing to block Visa's $5.3 billion acquisition of fintech startup Plaid, alleging the merger violates antitrust laws. 6 nov. 2020 — The Department of Justice has filed an anti-trust suit asking a court to block Visa's pending acquisition of Plaid, a payments-focused fintech firm  5 nov. 2020 — Visa Inc. (NYSE:V) issued the following statement today regarding its planned acquisition of Plaid: “Visa strongly disagrees with the Department  Igår talade vi med Plaid VD och medgrundare Zach Perret efter nyheter bröt det Visa planerar inte längre att köpa sitt företag för 5.3 miljarder dollar.

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The payments giant is shelling out more than $5 billion to acquire the startup that links fintech firms like PayPal and Acorns to customers’ bank accounts.

Well, What is Plaid? The News: Visa’s acquisition of San Francisco-based fintech Plaid this week for a whopping $5.3 billion, about twice the company’s December 2018 valuation, was the big news in fintech.