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First Data Sold for $22 Billion, Jobs at Risk

Company employs around 5000 in Omaha

First+Data+was+recently+bought+last+week+for+%2422+billion+by+Fiserv%2C+a+Wisconsin-based+company.
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First Data Sold for $22 Billion, Jobs at Risk

First Data was recently bought last week for $22 billion by Fiserv, a Wisconsin-based company.

First Data was recently bought last week for $22 billion by Fiserv, a Wisconsin-based company.

Photo by Ryan Soderlin/The World-Herald

First Data was recently bought last week for $22 billion by Fiserv, a Wisconsin-based company.

Photo by Ryan Soderlin/The World-Herald

Photo by Ryan Soderlin/The World-Herald

First Data was recently bought last week for $22 billion by Fiserv, a Wisconsin-based company.

Natalie Pearson, Entertainment Editor

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On Wednesday, January 16, it was announced in a press release that Omaha-born company, First Data Corporation, was to merge with Wisconsin-based Fiserv, a U.S. financial technology provider. Both companies have approved the merger agreement, in which Fiserv will acquire First Data for 22 billion dollars.

First Data Corporation, born in Omaha in 1971, is now based in Atlanta. According to data from the Greater Omaha Chamber of Commerce, the company is one of the area’s top 10 employers.

“I have long admired what Fiserv has achieved over the years, and I look forward to working with the talented associates of both companies as we set a higher standard of innovation and service in the industry,” said First Data Chairman and CEO Frank Bisignano, according to Business Wire. “I am excited by the significant value that the combination with Fiserv creates for all stakeholders.”

First Data and Fiserv said in a statement that they intended to save costs as a result of the merge. The two companies also highlighted other benefits of the deal, such as: “Streamlining operations, enhanced operational efficiency and process improvements.”

However, the deal did not say what this would mean for their workers. Some of the First Data jobs could be at risk because of duplication. Neither company responded for comment, according to the Omaha World-Herald.

There may be an opportunity in all of this, though. The companies also said they would invest $500 million over the next five years towards expansion. This could actually create jobs instead of the alternative.

There is nothing definite yet about what exactly this deal will mean for Omaha, but both companies are optimistic about the future.

Natalie Pearson

Natalie became a member of the Flightline in August of 2017. She is a junior this year, involved in band. Outside of school, she enjoys watching movies and playing video games. You can email her at [email protected]

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