Deals
Mastercard Buys Nets Unit for $3.19 Billion in Largest Deal
- Purchase comes with real-time, bill-payment capabilities
- Mastercard still on the lookout for other acquisition targets
Mastercard Inc. credit and debit cards are arranged for a photograph.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Mastercard Inc. agreed to buy a payments platform owned by Denmark-based Nets for 2.85 billion euros ($3.19 billion), using its biggest-ever acquisition to help extend a push into faster payments.
With the purchase, Mastercard is getting an electronic-billing platform and clearing and instant-payment services, according to a statement Tuesday. The company said the purchase will hurt profit for as long as two years after it’s completed, which is expected in the first half of 2020.