DataCash jumps 51% after it agrees takeover bid by MasterCard

DataCash shares leapt by 51%, or 121p, to 355p by 9am after MasterCard said it agreed to buy the British payment service provider for about £333m in cash. The offer values DataCash shares at about 360p, a 54% premium to yesterday’s closing price.

The purchase will allow the US credit card provider expand its e-business network.

MasterCard said in a statement: “The acquisition of DataCash will expand our already significant e-commerce merchant gateway presence in Asia and Australia to European countries and other high-growth, emerging markets worldwide.”