Visa / Pismo 2023
Visa acquired Pismo for $1.0B on June 28, 2023.
- Target
- Pismo
- Acquirer
- Visa
- Deal value
- $1.0B
- Deal type
- Cash
- Announced
- June 28, 2023
- Sub-sector
- Payments
Transaction overview
- Visa announced the acquisition of Pismo on June 28, 2023 for $1.0B.
- The transaction is structured as Cash.
- The deal closed on January 4, 2024.
Strategic rationale
Visa adds cloud-native core banking and issuer processing platform to extend its issuing solutions across Latin America and Asia.
Deal terms & multiples
About Pismo
Pismo is a technology company that develops and implements banking and card solutions for digital banks and large financial institutions. Its platform is cloud-native and delivers issuer processing and core banking capabilities via APIs. The company has operations in Latin America, Southeast Asia, and Europe. Investors include Redpoint eventures, SoftBank, Amazon, and Accel.
- HQ
- Brazil
- Key metric
- Operations across Latin America, Southeast Asia, and Europe at time of acquisition
About Visa NYSE: V
Visa is a digital payments network that facilitates transactions between consumers, merchants, financial institutions, and government entities. It operates across more than 200 countries and territories. The company is listed on the NYSE under the ticker V.
- Ticker
- NYSE: V
Frequently asked questions
How much did Visa pay for Pismo?
Visa acquired Pismo for $1.0B, announced on June 28, 2023.
When did Visa announce the acquisition of Pismo?
Visa announced the acquisition of Pismo on June 28, 2023.
What sub-sector is Pismo in?
Pismo is tracked in the Payments sub-sector.
Where is Pismo headquartered?
Pismo is headquartered in Brazil.
Sources
- investor.visa.com /news/news-details/2023/Visa-to-Acquire-Pismo/default.aspx