Majmudar & Partners acts as Indian legal counsel to Finicity on its sale to Mastercard
Mastercard (NYSE: MA) has entered into an agreement to acquire Finicity, a leading North American provider of real-time access to financial data and insights, having significant operations in India. The purchase price is US$825 million, and Finicity’s existing shareholders have the potential for an earn-out of up to an additional $160 million if performance targets are met.
The addition of Finicity’s complementary technology and teams strengthens the existing Mastercard open banking platform to enable and safeguard a greater choice of financial services, reinforcing the company’s long-standing partnerships with and commitment to financial institutions and fintech companies across the globe. Open banking gives people and businesses more control over their financial data.
The Majmudar & Partners’ team was led by partner, Amrit Mehta and supported by Ravi S. Raghavan (tax), Sinjini Majumdar, Dhruv Somayajula and Ritu Raj. Managing Partner, Akil Hirani, gave structuring and strategic inputs on various deal issues.