Fiserv will acquire First Data Corp. for $22 billion in a payments processing deal that marks one of the biggest financial mergers in a decade and a win for private-equity giant KKR & Co.
The deal will create the world’s largest payment processor amid a wave of consolidation in that industry, which faces threats from startups such as Square Inc. and Adyen NV. The all-stock transaction values First Data at a 29 percent premium to the Jan. 15 closing price.
“It will be interesting to see how combining two fairly large legacy processing companies will be done smoothly given the ...