Payments processing and cross-border transaction provider Euronet Worldwide said it has agreed to acquire CoreCard Corporation in a stock-for-stock merger valued at approximately $248 million.
The move is a part of Euronet’s efforts to strengthen its credit card issuing capabilities and expand its digital financial services, according to a statement.
Under the terms of the agreement, each CoreCard share will be exchanged for Euronet stock at a rate based on a volume-weighted average share price formula.
The exchange ratio will fall between 0.2783 and 0.3142, depending on the trading value of Euronet shares at the time of closing.
CoreCard shareholders will receive the maximum exchange ratio if Euronet stock is trading at or below $95.48 and the minimum if the price is at or above $107.80.
The deal has been approved by the boards of both companies and is expected to close in late 2025, subject to shareholder approval and regulatory clearance under the Hart-Scott-Rodino Act.
The merger will combine CoreCard’s proven credit processing platform with Euronet’s global infrastructure, enhancing its ability to serve banks, fintechs, and enterprise clients across international markets.
“More than a product expansion, this acquisition will be a catalyst for long-term growth, and we expect it to be accretive in the first full year post close,” said Michael J. Brown, Euronet’s Chairman and CEO. He added:
By integrating CoreCard’s platform with our own Ren architecture and global distribution network, we will be positioned to become a leading modern card issuer and innovation partner.
CoreCard CEO Leland Strange said the partnership was the result of extensive planning.
“We have spent a lot of time and diligence over the last year exploring the right ‘fit’ for what our team has built. We believe this is a great outcome for our employees and shareholders,” Strange added.
Euronet’s acquisition of CoreCard adds notable clients and capabilities, including support for co-branded card programs such as those with Goldman Sachs and Coinbase.
Legal advisers on the deal include Stinson LLP for Euronet and Kilpatrick Townsend & Stockton LLP for CoreCard. Keefe, Bruyette & Woods, a Stifel company, provided financial advice to CoreCard’s board.
The acquisition underscores Euronet’s broader strategy to modernize its product offerings and expand its presence in the U.S. market for embedded and digital finance.