MasterCard Agrees to Buy DataCash for $520 Million

MasterCard (MA) agreed to buy the UK payment service provider DataCash Group for £333 million ($520 million) to boost its e-commerce business.

MasterCard will pay £3.60 ($5.63) per share for DataCash, a premium of 54% over Wednesday's close, Reuters reported. MasterCard said it expects the deal to reduce its fourth-quarter earnings by about 5 cents per share, break even in 2011 and add to earnings in 2012.

DataCash reported 2009 pretax profit of £16.6 million ($25.93 million).

The deal is expected to close by the end of October.
Read Full Story

Markets

DJIA 24,423.26 34.31 0.14%
NASDAQ 7,020.52 51.27 0.74%
NIKKEI 225 21,148.02 -71.48 -0.34%
HANG SENG 25,771.67 19.29 0.07%
DAX 10,728.08 106.01 1.00%
USD (per EUR) 1.14 0.00 0.27%
JPY (per USD) 113.05 -0.13 -0.11%
GBP (per USD) 1.26 0.01 0.47%
USD (per CHF) 0.99 0.00 -0.22%