Fiserv acquires CCV Group

Name of the deal: Fiserv acquires CCV Group
Date announced: Closed on March 18th, 2025
Date closed: Closed on March 18th, 2025
Published value: €200m
Buyer(s): Fiserv
Target(s): CCV
Seller: Shareholders / family owners

Involved firms and advisors
Involved firms and advisors buy side:
DLA Piper – Legal Advisory  Meijburg & Co – Tax Advsiory

Involved firms and advisors target:
N/a

Involved firms and advisors sell side:
ING Corporate Finance – M&A Advisory  PwC – FDD & Tax Advisory  Greenberg Traurig – Legal Advisory

Pitch

Brief description deal / Deal outline
CCV Group, a leading Benelux payment solutions provider, was sold to Fiserv, an American provider of payments and financial services technology. The acquisition enables Fiserv to accelerate the deployment of its Clover platform and operating system across Europe, while providing enhanced capabilities and innovation to an expansive, combined merchant and partner base.

• Founded in Arnhem in 1958, CCV has been a pioneer in payments, enabling the first electronic payments in the Netherlands in the 1970s. Over the decades, CCV grew into a leading omni-channel payment solution provider in the Netherlands, Belgium, and Germany. Fiserv is a US listed global payments player (NYSE:FI; market cap: €112.1bn in March 2025), with operations across North America, EMEA as well as globally
• Having been under the ownership of the van der Velden family since its founding, the family sought to sell the business as no family members were involved actively within the business anymore and a reassessment of strategic priorities in the second half of 2023. The process was launched in Q1 2024.
• ING conducted a comprehensive Phase I process, which involved significant buyer education due to the complex regulatory and operational landscape of the European payments sector. This generated strong interest from both financial and strategic parties, whom indicated interest and received Phase I materials. ING subsequently conducted a competitive Phase II process during a period in which the Company was simultaneously undergoing a corporate reorganisation, culminating in the submission of binding offers from all parties which were invited to the second round
• Fiserv emerged as the preferred acquirer, presenting a strong strategic fit with CCV combined with a compelling all-cash competitive offer. In addition, Fiserv was demonstrating strong alignment with the company’s values and culture, an aspect of particular importance to the shareholders
• Beyond its advisory role, ING also managed stakeholder engagement, facilitating discussions among the family shareholders, the Board of Directors, the Supervisory Board, and the works council to ensure a smooth and transparent process

Why should this deal win the Award for Best Deal Mid-Cap 2025?
About Fiserv
Fiserv is a leading global provider of financial technology solutions headquartered in the United States. The company delivers payment processing, digital banking, merchant acquiring, and financial services software to banks, credit unions, and businesses worldwide. Fiserv is listed on the NYSE and known for its brands such as Clover and Carat, serving millions of merchants and financial institutions.

About CCV Group
CCV Group is a Dutch payment services provider based in Arnhem, the Netherlands. It specializes in electronic payment solutions, including payment terminals, transaction processing, and e-commerce payment systems. CCV serves retailers, SMEs, and large enterprises across Europe, with strong operations in the Benelux region and Germany.

This transaction marks a landmark moment in the European payments landscape: it ensures the continuity of a long-standing, family-owned Dutch payments champion while seamlessly integrating it into a Fortune 500 global leader—creating a platform for innovation, scale, and long-term growth. Its sheer importance is underscored by CCV’s foundational role in the Dutch economy, serving not only thousands of SMEs but also powering payment infrastructure for leading retailers such as Albert Heijn, Lidl, Q-Park, Jumbo, Kruidvat, and McDonald’s, as well as vital public institutions including St. Antonius Ziekenhuis, Amstelland Ziekenhuis, ROC Amsterdam, and Universiteit Leiden. The transaction safeguards the reliability and continuity of payment services that millions of Dutch citizens and businesses depend on daily.

The success of the deal stems from the complex nature of the transaction. The cross-border element through multiple jurisdictions including Asia, a listed minority holding, a Fortune 500 corporate and a local Dutch family company created a uniquely intricate deal structure that demanded exceptional coordination, regulatory navigation, and stakeholder alignment. The transaction not only bridged cultural and legal frameworks but also delivered transformative value by unlocking synergies across payment ecosystems, reinforcing the Netherlands’ position as a fintech hub, and setting a benchmark for deal-making sophistication in 2025.

What is the impact of this deal for the company?
Fiserv will enable CCV to accelerate its next growth phase by:

• Leveraging Fiserv’s global scale in sales, marketing and distribution
• Providing CCV access to Fiserv’s cutting-edge, secure, and reliable payment technologies
• Optimising the combined operating model to build a robust, fully integrated omni-channel offering
• Preservation of the CCV name, culture, and values whilst maintaining the Company’s headquarters in Arnhem, the Netherlands

As a result, CCV is positioned to expand its client base and product suite, while ensuring long-term continuity, innovation, and competitiveness in a rapidly evolving payments ecosystem

What is the impact of this deal for the direct stakeholders?
Shareholders: The transaction delivers a successful outcome for the founding family, ensuring the long-term legacy of CCV and providing continuity for its employees, clients and partners

• Employees: CCV staff benefit from being part of a global fintech leader with broader career opportunities, international exposure, and access to best-in-class resources
• Clients and partners: Merchants across Europe gain access to a wider product suite, seamless omni-channel solutions, and improved service reliability backed by the global capabilities of Fiserv

What is the impact of this deal on society?
Payments are a vital element of the economic infrastructure. By securing the future of CCV, this deal strengthens the resilience and innovation of the Dutch and European payment ecosystem:

• Merchants, from small businesses to corporates, will benefit from secure, efficient, and cost-effective payment solutions
• The deal safeguards and further develops critical Dutch and European payment infrastructure

It ensures continued innovation in secure digital payments, which is crucial for consumers and businesses in an increasingly cash-light society

What was most complex about this deal?
Business complexity: CCV operates across the full spectrum of payments, covering transaction processing, acquiring, online and closed-loop payments, and a wide range of in-store and self-service payment terminals

Regulatory dimension: CCV is a critical part of Dutch payment infrastructure and holds two licenses from De Nederlandsche Bank (payment institution license and processor license), requiring careful regulatory alignment

Strategic context: The transaction took place during a corporate reorganisation and required balancing the interests of a long-standing family-owned business with the strategic ambitions of a large global acquirer

Execution challenge: The deal required balancing the cross-border dynamics of a US acquirer, multiple European jurisdictions, and regulatory scrutiny. In the context of ongoing geopolitical tensions, the transaction required and obtained approval from the Dutch Central Bank, FDI approval from the Dutch, German and Belgian authorities, as well as competition approval in the Netherlands and Germany.