[ISN] Global Payments to Buy Heartland for $4.3 Billion

www.bankinfosecurity.com/global-payments-to-buy-heartland-for-43-billion-a-8753 By Tracy Kitten @FraudBlogger Bank Info Security December 16, 2015 Two leading payments processors that each suffered massive data breaches are consolidating. Atlanta-based Global Payments Inc. plans to buy its smaller rival, Princeton, N.J.-based Heartland Payment Systems Inc., for $4.3 billion. The deal that is expected to close during the fiscal fourth quarter ending May 31, 2016. Industry observers are weighing in on whether the merged companies will successfully build a strong culture of security. “Heartland really took its breach to heart and was one of the best examples of how to learn from such an event and turn it into a leadership opportunity,” says Al Pascual, director of fraud and security at Javelin Strategy & Research. “I give the CEO [Bob Carr] a lot of credit for that. Global Payments was quite the opposite, with one of the least transparent breach events in the payments industry. I’m hoping the security culture of Heartland becomes the dominant one.” But Tom Wills, managing director of payments security consultancy Secure Strategies, says it could be difficult for the new company created through the merger to improve security. […]