MoneyPass Group launches as independent company after Bridgeport Partners-Fiserv joint venture closes

Corporate Action
โดย GlobeNewswire·US·Read original
Summary · why it matters

MoneyPass Group began operating as an independent company following the close of a joint venture between Bridgeport Partners and Fiserv. The new company combines the MoneyPass Network, ATM Managed Services, and Cash Intelligence businesses, operating one of the nation’s largest surcharge-free ATM networks with more than 37,000 ATM locations and serving over 160 million cardholders. Bridgeport Partners holds a 51% controlling ownership stake, while Fiserv retains a 49% stake. Erik Wichita, with 30 years of leadership at Fiserv, serves as CEO, and Don Layden of Bridgeport Partners is Executive Chairman. The company will continue to invest in products, technology, and commercial organization with support from both owners.

Impact on stocks 1

Digital Finance & Tokenization · 1 stocks
Fiserv, Inc.
FISV
± MixedCapitalrelevance

Fiserv retains 49% stake in new JV, but impact on its own operations is unclear.

Off-coverage companies 2

MoneyPass GroupPrivate▲ Positive
Capitalrelevance

MoneyPass Group launches as independent company with combined ATM network and services.

Bridgeport PartnersPrivate▲ Positive
Capitalrelevance

Bridgeport Partners gains 51% controlling stake in the new independent company.