MasterCard to Acquire ElectraCard

May 22, 2014 (Thu): MasterCard announced that it has entered into an agreement with Opus Software Solutions Pvt. Ltd. (“Opus”) to acquire its subsidiary, ElectraCard Services Private Limited, (“ECS”), a leading global provider of software solutions and processing services for electronic payment and card systems. This transaction is anticipated to close in the second quarter of 2014 but without disclosing the terms of the agreements.

Vicky Bindra, president, Asia/Pacific, Middle East and Africa, MasterCard said: “The acquisition of ECS strengthens our capabilities and enables us to offer a true end-to-end solution for our customers. ECS’s expertise complements MasterCard’s products and services, making us an even stronger player in the field of processing and switching. We welcome ECS and its talented team into the MasterCard family, and we look forward to working alongside them.”