The payments processing giant Fiserv announced Wednesday that it has acquired CCV, a Dutch payments company.
The acquisition is expected to allow the processor to expand its offering of its point-of-sale platform Clover across Europe, while also enhancing its software capabilities, Fiserv said in a news release.
The company listed the amount paid for the purchases of CCV and the Canadian digital banking provider Payfare at $360 million in a Feb. 20 SEC filing. Fiserv planned to pay $140 million for Payfare — or $201.5 million in Canadian dollars — according to a December news release, which would make the price for CCV about $220 million.
A Fiserv spokesperson did not immediately respond to a request for additional comment on the transaction.
"The addition of CCV enables Fiserv to accelerate the development of our Clover platform and operating system," said Katia Karpova, Fiserv’s head of the EMEA region, said in the release.
Milwaukee-based Fiserv has previously laid out its international ambitions for the Clover platform, which it considers a major growth driver for the business.
CCV was founded in 1958 in Arnhem, Netherlands, and also has operations in other European countries such as Belgium and Germany, according to the news release. The company was the first to facilitate electronic payments in the Netherlands in the 1970s, the release said.
CCV had $225 million in revenue in 2024, TD Cowen analyst Bryan Bergen estimated in a note to investors Wednesday. The company has 501 to 1,000 employees, according to its LinkedIn page, and provides point-of-sale services and transaction processing.
Fiserv will likely convert CCV's terminals to Clover over time and use the purchase to improve Clover's brand recognition in Europe, Baird Equity Research analyst David Koning wrote in a client note Wednesday.
