California-based multinational fintech company Visa, announced today that it has signed a definitive agreement to acquire London-based Currencycloud, a company that specialises in a cloud-based platform for B2B cross-border payments.
According to a statement, the acquisition gives Currencycloud a valuation of £700M (approx €815.88M), inclusive of cash and retention incentives. The financial consideration will be reduced by the outstanding equity of Currencycloud that Visa already owns.