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14 January 20201 minute read

DLA Piper advises Visa on US$5.3 billion acquisition of Plaid

DLA Piper served as privacy diligence counsel for Visa in its US$5.3 billion acquisition of San Francisco-based fintech company Plaid.

Plaid's products enable consumers to conveniently share their financial information with thousands of apps and services such as Acorns, Betterment, Chime, Transferwise and Venmo. Consumers rely on these apps and services to help plan their spending, increase their savings and monitor their investments.

Plaid's fintech-centric business opens new market opportunities for Visa both in the US and internationally. The combination of Visa and Plaid provides the opportunity to deliver enhanced payment capabilities and related value-added services to fintech developers, and the acquisition will enable Visa to work more closely with fintechs through all stages of their development and drive growth in Visa's core business.

The DLA Piper team advising Visa was led by partner Andrew Serwin (San Diego) and included partner Jennifer Kashatus (Washington, DC); and associates Emily Maus, James Duchesne (both of Washington, DC) and Maya McKenzie (Atlanta).