Fiserv Purchases CCV to Expand Clover Throughout Europe

Company Acquisition - Fiserv has acquired CCV, a payment solutions provider operating in the Netherlands, Belgium, and Germany, to enhance the deployment of its Clover point-of-sale platform across Europe [1] - Financial terms of the acquisition were not disclosed [1] CCV Overview - CCV, founded in 1958, offers services including transaction processing, online and closed-loop payments, acquiring, and various payment terminals [2] - The company is recognized for facilitating the first electronic payments in the Netherlands 55 years ago [2] Strategic Intent - Fiserv aims to build upon CCV's strong foundation to ensure continued success and create a robust omnichannel offer for European businesses [3] - The acquisition is expected to provide Fiserv's merchant and partner network with access to advanced payment technology [4] Financial Performance - Clover has been a significant revenue driver for Fiserv, with Clover sales increasing by 29%, amounting to an annualized gross payments volume of $310 billion [5] Recent Developments - The acquisition follows Fiserv's recent purchase of Payfare, an earned wage access provider, which complements Fiserv's existing financial solutions [6] - A report indicated that many companies in the gaming industry are hindered by outdated data strategies, with only 18% tracking real-time market data, despite 80% considering it critical [6][7]