MasterCard to buy 92.4% of UK-based VocaLink for US$920m

[LONDON] MasterCard Inc said it had agreed to buy 92.4 per cent of the UK-based VocaLink Holdings Ltd for about US$920 million, after adjusting for cash and certain estimated liabilities.

VocaLink operates payments technology platforms on behalf of UK payment schemes.

A majority of VocaLinks shareholders will retain a 7.6 per cent stake in the firm for at least three years, according to the terms of the deal, MasterCard said.

VocaLink's existing shareholders could get an additional US$220 million, if certain performance targets are met, MasterCard said.

REUTERS