Skadden, Wilson Sonsini Guide $5.3B Visa-Plaid Deal

Law360 (January 13, 2020, 6:40 PM EST) -- Visa said Monday it will pay $5.3 billion to acquire fintech company Plaid, jump-starting the global payments giant's entry into fintech in a deal steered by Skadden Arps Slate Meagher & Flom LLP and Wilson Sonsini Goodrich & Rosati PC.

The acquisition of San Francisco-based Plaid, which deploys technology to connect financial accounts with various applications, will serve as an entry point for Visa into new opportunities in the fintech industry across the globe, Skadden-steered Visa said in a statement. Visa had previously sought to dive into fintech by allying itself with the new Facebook-backed cryptocurrency Libra but pulled out of...

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