Fintech

Guide to Payment M&A

Payments M&A remains hot.

Businesses that just a few years ago were considered boring financial plumbing are now viewed as exciting growth opportunities, where economies of scale favour buy and build strategies, and fast-changing technological developments and consumer preferences provide scope for continued evolution. The result is that prime assets in the payments space are often hotly contested and attract very high valuations. In such a competitive market, ensuring that you are asking the right questions at the right time and have the necessary support in place can be critical.

To identify the right questions, we have brought together our collective experience of assisting clients to successfully acquire payments businesses, including contributions from our expert teams across antitrust and foreign direct investment, data and intellectual property, regulatory, employment and disputes. To give an indication of the right time to be thinking about specific issues, we have ordered this guide in line with a standard deal timetable, with sections covering the periods:

during preliminary discussions leading up to an indicative offer;
through due diligence to a final offer;
between the final offer and signing;
from signing to closing;
at closing; and
post-closing.

This guide is not intended to be, nor could it ever be, exhaustive. Every deal is different and brings its own unique issues. This guide seeks to provide the reader with a clear understanding of what these issues are and when they should be raised in order to maximise your chances of success.

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