23 Sep 2014 14:54
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Don't have an account? Click here to register.Visa sweetens bid for Earthport, trumps Mastercard
Fri, 08th Feb 2019 09:23
(Sharecast News) - Visa International Service Association, a wholly-owned subsidiary of Visa Inc, has upped its bid for payment solutions business Earthport, trumping a rival offer from Mastercard.Visa said on Friday that it was increasing its offer by 23% to 37p per share in cash, valuing Earthport at around £247m. It's also a 12% premium to the offer made last month by Mastercard and a 397% premium to the closing price on 24 December, which was the last business day before the initial offer was made.Earthport directors, who had previously backed the bid from Mastercard, have now recommended unanimously that shareholders accept the increased offer from Visa, which they deem to be "fair and reasonable".The company's interim chairman, Sunil Sabharwal, said: "The board of Earthport is pleased to recommend bidco's cash offer for Earthport which is at a 12% premium to the Mastercard proposal. This revised cash offer provides our shareholders with even greater value in cash for their shares."Visa said: "As a champion in the digital payments and innovation space, Visa allows businesses, governments and consumers to use the Visa network to transfer funds globally from an originating account to another account via card credentials."With Visa's capabilities, funds can be transferred into the recipient's Visa account quickly, conveniently, and securely - providing real time access to funds and the ability to utilise Visa cards to make purchases at 54 million merchant locations worldwide."Bidco believes that Earthport can complement the development of the Visa payment solutions and intends to use its resources to help Earthport grow."Mastercard put out its own statement, saying it was considering its options in light of the improved offer from Visa."Mastercard is considering its options and urges Earthport shareholders to take no action in response to the announcement by Visa," it said, adding that an announcement will be made in due course.At 0920 GMT, Earthport shares were up 14% to 44.10p.
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21 Jul 2014 10:22
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Earthport Wins First Client In Turkey
LONDON (Alliance News) - Earthport PLC said Thursday that it has been selected by Aktif Bank in Turkey to provide international payment transaction services. Earthport said that under the terms of the deal - its first in the country - it will support the Turkish bank's plans for multi-curre
Read more22 May 2014 09:19
Earthport Inks Cross-Border Payments Deal With US's State Street
LONDON (Alliance News) - Earthport PLC Thursday said it has signed an agreement with US financial services and investment manager State Street Corp, as the the AIM-listed cross-border payments company continues to add to its growing list of contract wins in recent months. In a statement, Ea
Read more6 May 2014 09:35
Earthport wins multi-year contract with HSBC
AIM-listed Earthport, the cross-border payments service provider, announced it has signed a multi-year contract with HSBC with a 'significant' minimum revenue commitment. The contract will allow the group to expand the coverage of its global disbursements product across countries in Central and Eas
Read more6 May 2014 08:40
Earthport Wins Multi-Year Contract With HSBC For Cross-Border Payments
LONDON (Alliance News) - Earthport PLC, the AIM-listed cross-border payments company, Tuesday said it has won a "multi-year global contract" with HSBC Holdings PLC, with a "significant" minimum revenue commitment, adding to a stream of deals in recent months. HSBC, the UK's biggest bank by
Read more6 May 2014 07:33
UK MORNING BRIEFING: Barclays Results Dragged Down By Investment Bank
LONDON (Alliance News) - UK shares have opened marginally higher Tuesday despite growing tensions in Ukraine but following a modestly positive lead from Wall Street on Monday.
Several major UK companies have provided quarterly updates early Tuesday.
BarclaysRead more
30 Apr 2014 16:25
Earthport wins three-year deal with online money transfer firm
AIM-listed Earthport, a cross-border payments service provider, has secured a three-year contract with WorldRemit, a global online money transfer business. The transactions are expected to go live within one week. "We are delighted that WorldRemit has chosen Earthport and look forward to supporti
Read more30 Apr 2014 12:52
Earthport Wins WorldRemit Contract
LONDON (Alliance News) - Cross-border payments company Earthport PLC Wednesday said it has secured a three-year contract with London-headquartered online money transfer business WorldRemit, with transactions expected to go live in under a week from the contract signing. No financial details
Read more24 Mar 2014 11:34
Earthport wins deal from US bank PNC
Cross-border payment service provider Earthport saw its shares rise after it won a contract of undisclosed value with the US banking arm of New York-listed PNC Financial Services Group. Earthport, whose service is designed to handle high volumes of low value payments, said it would supply banking
Read more24 Mar 2014 11:13
STOCKS NEWS EUROPE-UK small caps edge higher, outperform market
The FTSE small cap index rises 0.2 percent, outperforming junior-listed AIM shares, mid-caps and blue chips, down between 0.5 percent and 0.6 percent. Shares in Earthport rise 7.4 percent to 47.75 pence as the cross-border payments services firm wins a contract to provide solutions for high
Read more24 Mar 2014 09:43
Earthport Wins Payments Contract With US's PNC Bank
LONDON (Alliance News) - Earthport PLC Monday said it has won a contract for its high volume low-value payments service with PNC Bank NA, a member of the PNC Financial Services Group Inc. In a statement, the AIM-listed cross-border payments provider said it will provide a further update whe
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