Global payments processing provider Euronet has signed a definitive agreement to acquire CoreCard  in a stock-for-stock merger transaction that values CoreCard at approximately $248 million.

In February, The Head and Tale was the first to report that Euronet is in talks to acquire CoreCard. The story also deep dives into the Apple Card-processor CoreCard's India set-up and business -- which may have been used to jump up its valuation as the global business stumbled.

Euronet, which focuses on payments processing and cross-border transactions, said the deal will add a credit-card platform and marquee clients.

According to Euronet, "CoreCard's platform is proven and trusted by some of the most respected names in finance and technology, and has been instrumental in launching one of the most successful co-branded credit card offerings in partnership with Goldman Sachs. The CoreCard modern architecture supports diverse, bespoke use cases for fintech companies such as Cardless, who has recently been chosen as the partner for the Coinbase credit card."

"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 chief executive officer. "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 for the next generation of digital finance."

The transaction is expected to close in late 2025.