Alliance Data to pay USD 450 mln for digital payments company Bread

Monday 2 November 2020 12:46 CET | News

Alliance Data Systems has finalised an agreement to acquire digital payments firm Bread in a deal valued at approximately USD 450 million.

Bread provides retailers with an omnichannel solution and bank partners with its platform capabilities.

Under the transaction terms, Alliance Data will pay USD 100 million of the deal value in the form of its common stock.

Bread’s point-of-sale (POS) technologies include buy now, pay later (BNPL) and instalment solutions.
The deal will enable Alliance Data to offer pay-over-time products to its brand partners.

Post-acquisition, Bread’s 185 employees and 400 clients will be moved to Alliance Data.

Additionally, Bread’s payment solutions combined with Alliance’s Enhanced Digital Suite (EDS) will boost digital customer experiences.

Subject to receipt of regulatory approval, the transaction is expected to be closed in the fourth quarter of this year.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Alliance Data, digital payments, Bread
Categories: Banking & Fintech | Payments General
Countries: United States
This article is part of category

Banking & Fintech