MasterCard Inc (MA.N) said it had agreed to buy 92.4 percent of the UK-based VocaLink Holdings Ltd for about $920 million (700 million pounds), after adjusting for cash and certain estimated liabilities.
VocaLink operates payments technology platforms on behalf of UK payment schemes.
A majority of VocaLinks shareholders will retain a 7.6 percent stake in the firm for at least three years, according to the terms of the deal, MasterCard said.
VocaLink's existing shareholders could get an additional $220 million, if certain performance targets are met, MasterCard said.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Savio D'Souza)
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