MasterCard To Buy UK's DataCash For $520M

Law360, New York (August 19, 2010, 12:50 PM EDT) -- MasterCard Inc. has agreed to buy European payment service provider DataCash Group PLC for about £333 million ($520 million) in a bid to expand its share of the e-commerce market, the credit card giant said Thursday.

Under the terms of the deal, MasterCard will pay 360 pence per share in cash for the London-based company, a premium of nearly 54 percent over DataCash's closing price Wednesday.

DataCash offers online merchants a single interface to process secure payments worldwide.

"E-commerce represents an important part of MasterCard’s growth...
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