CCRD News & Events

Reports Q2 revenue $17.6M vs. $13.8M last year.

CoreCard (CCRD) is at risk of losing its credit card business with Apple (APPL), the company's largest client, with Apple looking to end its partnership with Goldman Sachs (GS), AnnaMaria Andriotis of Wall Street Journal reports. JPMorgan (JPM) is in advanced talks with Apple to take over as the company's card issuer from Goldman, the Journal previously reported. CoreCard CEO Leland Strange has said publicly that the company could lose its Apple credit card if JPMorgan were to take over, according to the paper. Euronet (EEFT) announced last week it would buy CoreCard for $248M or $30 per share in an all-stock deal.

Euronet (EEFT) and CoreCard (CCRD) announced they have entered into a definitive agreement for Euronet to acquire CoreCard in a stock-for-stock merger transaction that values CoreCard at approximately $248M, or $30 per share of CoreCard common stock. The transaction has been approved by the boards of directors of both Euronet and CoreCard, and is expected to close in late 2025, subject to approval by CoreCard shareholders and the satisfaction of certain other customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Under the terms of the merger agreement, each share of CoreCard common stock will be exchanged for a number of shares of Euronet common stock equal to an exchange ratio between 0.2783 and 0.3142, calculated as $30 divided by the volume weighted average share price of Euronet common stock over the 15-trading day period ending on and including the second to last trading day prior to the closing date, subject to a floor of $95.48 per share and a ceiling of $107.80 per share. CoreCard shareholders will receive 0.3142 Euronet shares for each of their CoreCard shares if the Final Euronet Stock Price is at or below $95.48, and 0.2783 Euronet shares for each of their CoreCard shares if the Final Euronet Stock Price is at or above $107.80.