Payments technology company Visa has confirmed it has signed a deal to buy Swedish open banking platform Tink
The payment tech company is set to hand over $2.15 billion for the acquisition, one of the largest investments for the company.
The total financial consideration included cash and retention incentives.
Visa says Tink would retain its brand and management team, and its headquarters would continue to operate as normally in Stockholm.
Visa is now set to fund the deal from cash on hand and the acquisition would have no impact on Visa’s previously announced stock buyback programme or dividend policy.
In January, Visa and financial technology company Plaid called off their $5.3 billion merger agreement following a U.S. government lawsuit aimed at stopping the merger on antitrust grounds
