Visa Inc V is in advanced talks to acquire Pismo, a Brazilian cloud-based payment and banking platform provider.
The American multinational financial services firm could announce a deal by June, Bloomberg cites familiar sources.
Mastercard Inc MA and Visa were among the firms contending to acquire Pismo, worth $1 billion in a sale.
Reportedly in 2023, Visa offered to snap Pismo for $1.4 billion.
Pismo, co-founded by Daniela Binatti and Ricardo Josuá, helps banks and financial technology companies launch cards and payment products rapidly.
In 2021, the company raised $108 million from investors led by SoftBank Group Corp SFTBF SFTBY, Amazon.com Inc AMZN, and Accel.
Visa held $19.4 billion in cash and equivalents on March 31, 2023.
Price Action: V shares traded higher by 1.00% at $225.27 premarket on the last check Friday.
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