|Deals & Matters|
|27 January 2021|
MasterCard has acquired the leading American Fintech company – Finicity Technologies along with its two wholly-owned subsidiaries in India and Australia.
Working closely with Finicity’ s global counsel – Cooley LLP, the Kochhar team comprising its Mumbai Resident Head & Senior Partner Rajarshi Chakraborty, Partner Sameena Jahangir, Senior Associate Tavishi Chandra and Associate Sneha Bhagwat advised the client on the Indian leg of the global transaction and assisted in all pre-closing, closing and post-closing formalities.
Under the terms of the agreement, Mastercard acquired Finicity for US$ 825 Mn upfront, with the potential of US$ 160 Mn in additional earn-out payments contingent on meeting performance targets.
The aforesaid transaction is the Winner of the DEAL OF THE YEAR AWARD 2020 by Indian Business Law Journal (IBLJ)