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Acquisitions
6 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
Acquisitions of Businesses
Acquisitions were accounted for as business combinations using the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations. Purchase price was allocated to the respective identifiable assets acquired and liabilities assumed based on the estimated fair values at the date of acquisitions. The results of operations for the following acquired businesses are included in the consolidated results of the Company from the respective dates of acquisition. Pro forma information for these acquired businesses is not provided because they did not have a material effect, individually or in the aggregate, on the Company’s consolidated results of operations.
Acquisition of Payfare
On March 2, 2025, the Company acquired Payfare, Inc. (“Payfare”), a Canada-based provider of program management solutions powering instant access to earnings and banking solutions for workforces, for a purchase price of $95 million, net of $46 million of acquired cash. Payfare is included within the Financial Solutions (“Financial”) segment and expands the Company’s embedded finance capabilities.
The preliminary allocation of purchase price resulted in the recognition of identifiable intangible assets, including acquired software and technology, of approximately $37 million with an estimated useful life of 7 years, $55 million of goodwill and $49 million of other net assets, including acquired cash. The allocation of the purchase price is preliminary and is subject to further adjustment, pending additional refinement and final completion of valuations. Goodwill, which is not deductible for tax purposes, is primarily attributed to the anticipated value created by further enhancing the Company’s finance solutions in embedded banking, payments and lending for large enterprises and financial institutions.
Acquisition of CCV
On March 18, 2025, the Company acquired CCV Group B.V. (“CCV”), a Netherlands-based supplier of point-of sale (“POS”) payment solutions, for $229 million, net of $26 million of acquired cash. CCV is included within the Merchant Solutions (“Merchant”) segment and expands the Company’s network of payment solutions.
The preliminary allocation of purchase price resulted in the recognition of identifiable intangible assets, including customer relationships, of approximately $96 million with an estimated useful life of 5 years, $121 million of goodwill and $38 million of other net assets, including acquired cash. The allocation of the purchase price is preliminary and is subject to further adjustment, pending additional refinement and final completion of valuations. Goodwill, which is not deductible for tax purposes, is primarily attributed to the anticipated value created by enabling the Company’s ability to accelerate the deployment of its Clover POS and business management platform, providing enhanced capabilities and innovation to an expansive combined merchant and partner base across Europe.
Other Acquisitions
On April 4, 2025, the Company acquired Pinch Payments NZ Limited (together with Zootive Pty Ltd, “Pinch Payments”), an Australia-based payment facilitator. Pinch Payments is included within the Merchant segment and expands the Company’s flexible payment services for its partners and clients, and presence within the Asia-Pacific region. On June 4, 2025, the Company acquired Money Money Serviços Financeiros S.A. (“Money Money”), a Brazil-based provider of risk analysis and credit decisioning solutions. Money Money is included within the Merchant segment and expands the Company’s payment and financial service capabilities, enabling access to working capital and other payment solutions for small and medium-sized businesses. The Company acquired these businesses for an aggregate purchase price, including deferred payments, of $41 million, including earn-out provisions estimated at a fair value of $27 million (see Note 8). The preliminary allocation of purchase price for these acquisitions resulted in the recognition of identifiable intangible assets, including software and technology, of approximately $19 million with an estimated weighted average useful life of 6 years, goodwill of approximately $25 million and other net assumed liabilities of approximately $3 million. The purchase price allocations are preliminary and are subject to further adjustment, pending additional refinement and final completion of valuations. Goodwill for these acquisitions, which is not deductible for tax purposes, is primarily attributed to the anticipated value created by expanding the reach of the Company’s payment solutions and financial service capabilities.
Other Transactions
On April 17, 2025, the Company acquired the remaining 19% ownership interest in ICICI Merchant Services Private Limited, an India-based merchant acceptance business, for $22 million. The Company previously held a majority controlling financial interest in this subsidiary, which continues to be consolidated and reported within the Merchant segment. On June 5, 2025, the Company entered into an agreement to acquire the remaining 49.9% ownership interest in AIB Merchant Services (“AIBMS”), an Ireland-based payments solution provider. The Company currently maintains a majority controlling financial interest in AIBMS and will continue to consolidate this entity, as a fully owned subsidiary, within the Merchant segment. The transaction is expected to close in the third quarter of 2025, subject to regulatory approval and other customary closing conditions.