Visa Abandons $5.3B Acquisition Of Fintech Company Plaid After DOJ’s Challenge - Upstart Competitors Should Be Aware Of “Killer Acquisitions”
By EsqSocial Corporation 15/01/21
Visa abandoned its $5.3 billion acquisition of Plaid Inc., a fintech company known for its data aggregation technology, but which was developing a potential rival to Visa’s online debit services. The parties abandoned the transaction, which was announced in January 2020, in the midst of a challenge to the deal by the U.S. Department of Justice Antitrust Division (“DOJ”), which sued to block the transaction in early November 2020 based on the theory of nascent competition....
By: Goodwin