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MasterCard Acquisition Announcement

MasterCard Acquisition

MasterCard Acquisition Announcement

19/08/2010
MasterCard Incorporated ("MasterCard") is pleased to announce that it has agreed with the Board of DataCash Group plc ("DataCash") the terms of a recommended cash acquisition of the entire issued and to be issued share capital of DataCash by MasterCard/Europay U.K. Limited ("MEPUK"), a wholly-owned subsidiary of MasterCard.

Ajay Banga, President and Chief Executive Officer of MasterCard, said:
“E-commerce represents an important part of MasterCard’s growth strategy, and this acquisition will allow us to provide new services to our acquiring customers, as well as drive increased e-commerce penetration in both existing and new markets. The acquisition of DataCash will expand our already significant e-commerce merchant gateway presence in Asia and Australia to European countries and other high-growth, emerging markets worldwide.”
Ashley Head, Chairman of DataCash, said:
“The proposed acquisition represents a significant opportunity for DataCash to drive increased adoption of our platforms and programs internationally and become part of the exciting value proposition of MasterCard. This announcement marks a landmark development for our customers, merchants, partners and employees as DataCash now looks forward to the next stage of its development. The acquisition represents a significant premium of 65.1 per cent. over the average Closing Price of DataCash for the last six months and represents an opportunity for investors to realise today the potential benefits of the combination.”

 

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