Visa Inc. · NYSE:V
Visa — Merger or Acquisition (April 2010)
9 slides from Visa's merger presentation, Apr 21, 2010
Slide 1: Visa Inc. to Acquire CyberSource
Visa Inc. to Acquire CyberSource April 21, 2010
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements based on current expectations or beliefs, as well as a number of assumptions about future events, and these statements are subject to factors and uncertainties that could cause actual results to differ materially from t
Slide 3: Transaction Overview
Transaction Overview • Visa to acquire all of CyberSource’s outstanding equity for $26.00 per share, or a total of $2.0 billion • Financing – Visa cash balance supported by strong free cash flow • Expected closing – Q3 CY2010 • Customary conditions including regulatory approval and CyberSource stock
Slide 4: CyberSource at a Glance
CyberSource at a Glance A Payment Management Company • Global Payment Processing • Fraud Management • Payment Security Management Global Operations Blue Chip Customer / Partner base • Approximately 295,000 customers • 50% of the Dow Jones Industrial companies Enterprise (CyberSource solution) • Appr
Slide 5: Payments – Fraud Management – Payment Security
Acquirers & Payment Processors Fraud Detection Services Payment Security Services Services Connections & Integration Payments – Fraud Management – Payment Security Virtual Payment Workflow Automation & Intelligence Data Storage Merchant Mobile • Multi-type • Systematic Fraud • Split Shipments • Reve
Slide 6: Strategic Aspirations for 2015
Strategic Aspirations for 2015 Aspiration By 2015, Visa will… Accelerate Reach X% payments volume share of global PCE electronification Diversify Generate 50% of revenue from outside U.S. geographically Ensure X% of all our transactions are Embed processing processed on VisaNet Enter new Drive X% of
Slide 7: Strategic Rationale
Strategic Rationale Combined assets will drive long-term eCommerce growth by: • Accelerating category growth and increasing usage of Visa core products • Using Visa’s client relations to drive global expansion • Building on CyberSource’s merchant relationships to grow Visa eCommerce solutions • Deli
Slide 8: Financial Considerations
Financial Considerations Financing Approach • Financed from available cash supported by strong free cash flow Premium Paid • Consistent with high-growth tech companies • Significant goodwill and intangibles Expected Dilution Impact • Approximately 4-5¢ in Q4 fiscal 2010 • Slightly dilutive in fiscal
Slide 9: Visa Inc. to Acquire CyberSource
Visa Inc. to Acquire CyberSource April 21, 2010