Fiserv and First Data: By the numbers

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Fiserv agreed to acquire First Data in an all-stock deal with a value of about $22 billion that will combine two of the financial services industry's largest technology and processing companies.

The deal is a major move to build fintech scale at a time when younger, more nimble companies are winning a sizable portion of the market. It's also a sign that the business models that have sustained many large companies are far less viable in today's cutthroat, tech-driven payments industry.

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M&A Payment processing Fintech Fiserv First Data