Milwaukee, Wis.-based Fiserv, which trades on the New York Stock Exchange, will pay $4 in cash per share of Payfare, which trades on the Toronto Stock Exchange. The firms expect the deal to close in the first half of 2025, if it receives shareholder and regulatory approvals. (The Logic)
Skip to content
Milwaukee, Wis.-based Fiserv, which trades on the New York Stock Exchange, will pay $4 in cash per share of Payfare, which trades on the Toronto Stock Exchange. The firms expect the deal to close in the first half of 2025, if it receives shareholder and regulatory approvals. (The Logic)
Talking point: Payfare is the latest in a long line of technology firms to leave Canadian public markets in acquisition or go-private deals over the last year and a half. The Toronto-based company went public in March 2021, and this September launched a strategic review to consider options including acquisitions or a sale. Payfare—which provides gig workers with faster payouts from on-demand apps like Uber and DoorDash—is profitable and growing revenue. But its shares have traded well below their initial public offering price in recent months. On Monday, its stock rose as high as $3.85, up 82 per cent. Fiserv’s share price was largely unchanged.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
News
Online harms bill would give new regulator power to slap massive fines on AI, social media giants
Briefing
Cenovus’s Jon McKenzie says there’s no financial case for a new pipeline and major carbon capture
Ubisoft shuts down Winnipeg studio
Quebec invested over $760M in battery companies that eventually went under, report says
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
