Visa’s $5.3 Billion Acquisition of Plaid

Skadden advised Visa Inc. on the deal. Wilson Sonsini Goodrich & Rosati advised Plaid.

Visa Inc. (NYSE: V) has signed a definitive agreement to acquire Plaid. Visa will pay total purchase consideration of $5.3 billion to acquire Plaid.

Once closed, the combination of Visa and Plaid is expected to provide significant benefits to developers, financial institutions and consumers.

The transaction is subject to regulatory approvals and other customary closing conditions. Visa will fund the transaction from cash on hand and debt issuance at the appropriate time. This transaction will have no impact on Visa’s previously announced stock buyback program or dividend policy. The transaction is expected to close in the next three to six months.

Plaid is a network that makes it easy for people to securely connect their financial accounts to the apps they use to manage their financial lives.

Visa is the world’s leader in digital payments, with the mission to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive.

The Skadden team included M&A partners Kenton King (Picture), Allison Schneirov (New York), and Sonia Nijjar; associates Christopher Bors and Daniel Luks (New York); tax partner Nathan Giesselman (Palo Alto); Intellectual Property partner Jose Esteves and counsel Ken Kumayama; Executive Compensation and Benefits partner Joseph Yaffe and counsel Kristin Davis; Labor and Employment partner Karen Corman and associate Anne Villanueva; and Antitrust partners Steven Sunshine (Washington, D.C.), Maria Raptis (New York) and Ingrid Vandenborre (Brussels).

The Wilson Sonsini team included Todd Cleary, Rich Mullen, Andrew Kao, David Lee, Elia Perez Villamarin, Tony Jeffries, Jeana Kim, Rob Broderick, Matt Staples, Daniel Chen, Christopher Paniewski, Khurram Awan, Blair Nelson, Jonathan Zhu, Eileen O’Pray, Joe Mandry, Scott McCall, Jaqueline Tokuda, Jason Chan, Joshua Soven, Ben Labow, Todd Hahn, Stuart Baimel, Brendan Coffman, Rebecca Stuart, Meaghan Snyder, James McCann, Martin Sul, Lee Cumberland, Melissa Mannino, Maria Lapetina, Roxana Mondragon-Motta.

Involved fees earner: Christopher Bors – Skadden Arps Slate Meager & Flom; Karen Corman – Skadden Arps Slate Meager & Flom; Kristin Davis – Skadden Arps Slate Meager & Flom; Jose Esteves – Skadden Arps Slate Meager & Flom; Nathan Giesselman – Skadden Arps Slate Meager & Flom; Kenton King – Skadden Arps Slate Meager & Flom; Ken Kumayama – Skadden Arps Slate Meager & Flom; Daniel Luks – Skadden Arps Slate Meager & Flom; Sonia Nijjar – Skadden Arps Slate Meager & Flom; Maria Raptis – Skadden Arps Slate Meager & Flom; Allison Schneirov – Skadden Arps Slate Meager & Flom; Steven Sunshine – Skadden Arps Slate Meager & Flom; Ingrid Vandenborre – Skadden Arps Slate Meager & Flom; Anne Villanueva – Skadden Arps Slate Meager & Flom; Joseph Yaffe – Skadden Arps Slate Meager & Flom; Khurram Awan – Wilson Sonsini Goodrich & Rosati; Stuart Baimel – Wilson Sonsini Goodrich & Rosati; Rob Broderick – Wilson Sonsini Goodrich & Rosati; Jason Chan – Wilson Sonsini Goodrich & Rosati; Daniel Chen – Wilson Sonsini Goodrich & Rosati; Todd Cleary – Wilson Sonsini Goodrich & Rosati; Brendan Coffman – Wilson Sonsini Goodrich & Rosati; Lee Cumberland – Wilson Sonsini Goodrich & Rosati; Todd Hahn – Wilson Sonsini Goodrich & Rosati; Tony Jeffries – Wilson Sonsini Goodrich & Rosati; Andrew Kao – Wilson Sonsini Goodrich & Rosati; Jeana Kim – Wilson Sonsini Goodrich & Rosati; Benjamin Labow – Wilson Sonsini Goodrich & Rosati; Maria Lapetina – Wilson Sonsini Goodrich & Rosati; Joe Mandry III – Wilson Sonsini Goodrich & Rosati; Melissa Mannino – Wilson Sonsini Goodrich & Rosati; Scott McCall – Wilson Sonsini Goodrich & Rosati; James McCann – Wilson Sonsini Goodrich & Rosati; Roxana Mondragon-Motta – Wilson Sonsini Goodrich & Rosati; Rich Mullen – Wilson Sonsini Goodrich & Rosati; Blair Nelson – Wilson Sonsini Goodrich & Rosati; Eileen O’Pray – Wilson Sonsini Goodrich & Rosati; Christopher Paniewski – Wilson Sonsini Goodrich & Rosati; David Seoho Lee – Wilson Sonsini Goodrich & Rosati; Meaghan Snyder – Wilson Sonsini Goodrich & Rosati; Joshua Soven – Wilson Sonsini Goodrich & Rosati; Matt Staples – Wilson Sonsini Goodrich & Rosati; Rebecca Stuart – Wilson Sonsini Goodrich & Rosati; Martin Sul – Wilson Sonsini Goodrich & Rosati; Jaqueline Tokuda – Wilson Sonsini Goodrich & Rosati; Elia Villamarin – Wilson Sonsini Goodrich & Rosati; Jonathan Zhu – Wilson Sonsini Goodrich & Rosati;

Law Firms: Skadden Arps Slate Meager & Flom; Wilson Sonsini Goodrich & Rosati;

Clients: Plaid Inc.; Visa Inc.;