Visa Inc V is in advanced talks to acquire Pismo, a Brazilian cloud-based payment and banking platform provider.
The American multinational financial services firm could announce a deal by June, Bloomberg cites familiar sources.
Mastercard Inc MA and Visa were among the firms contending to acquire Pismo, worth $1 billion in a sale.
Reportedly in 2023, Visa offered to snap Pismo for $1.4 billion.
Pismo, co-founded by Daniela Binatti and Ricardo Josuá, helps banks and financial technology companies launch cards and payment products rapidly.
In 2021, the company raised $108 million from investors led by SoftBank Group Corp SFTBF SFTBY, Amazon.com Inc AMZN, and Accel.
Visa held $19.4 billion in cash and equivalents on March 31, 2023.
Price Action: V shares traded higher by 1.00% at $225.27 premarket on the last check Friday.
Photo via Wikimedia Commons
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
