Visa Inc. officially announced terms of its deal to acquire Visa Europe, the company’s European counterpart, after recent acquisition rumors. The deal has a maximum total value of up to €21.2 billion ($23.4 billion) in cash and stock, with €16.5 billion ($18.2) up front and a potential additional payout of €4.7 billion ($5.2 billion) four years after the deal closes, as an incentive for Visa's European arm to meet estimated revenue targets. Both Visa and Visa Europe’s boards were unanimous on the terms of the deal, which is expected to close in Q2 2016. The merger will bring all of Visa’s global operations under one roof for the first time since 2007.

Visa Europe will bring Visa significant business and growth opportunity.

Read more Visa acquires Visa Europe

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