Euronet Acquires CoreCard in $248M Stock-For-Stock Merger

Euronet has agreed to acquire CoreCard in a stock-for-stock merger valued at $248M. CoreCard shareholders will receive between 0.2783 and 0.3142 Euronet shares per share, depending on Euronet's stock price at closing. The transaction has board approval from both companies and is expected to close in late 2025.

Euronet Worldwide (EEFT) has announced a definitive agreement to acquire CoreCard Corporation (CCRD) in a stock-for-stock merger valued at approximately $248 million. The deal, which is expected to close in late 2025, aims to accelerate Euronet's digital transformation strategy and expand its U.S. footprint [1].

CoreCard shareholders will receive between 0.2783 and 0.3142 shares of Euronet common stock for each of their CoreCard shares, depending on Euronet's stock price at closing. The exchange ratio is calculated as $30 divided by the volume-weighted average share price of Euronet common stock over the 15-trading day period ending on and including the second to last trading day prior to the closing date [1].

The acquisition marks a significant step in Euronet's strategic goal of diversifying its revenue mix and becoming a leading modern card issuer and innovation partner for the next generation of digital finance. CoreCard's proven credit card platform and marquee clients, including Goldman Sachs, will be integrated with Euronet's Ren architecture and global distribution network [1].

Michael J. Brown, Euronet's Chairman and CEO, stated, "This acquisition will be a catalyst for long-term growth and is expected to be accretive in the first full year post-close." Leland Strange, CEO of CoreCard, added, "Joining Euronet marks an exciting new chapter for CoreCard. We are excited to bring our capabilities to a global stage" [1].

The transaction has been approved by the boards of directors of both Euronet and CoreCard and is subject to approval by CoreCard shareholders and the satisfaction of certain other customary closing conditions [1].

References:
[1] https://finance.yahoo.com/news/euronet-corecard-announce-merger-agreement-213300362.html