Deals
KKR Banks on Bisignano Forging Apple Deal at First Data
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Frank Bisignano has been busy forging ties with Silicon Valley since leaving JPMorgan Chase & Co. 17 months ago to run First Data Corp.
The company he inherited was a payment-industry giant with a client base that included Wal-Mart Stores Inc. and McDonald’s Corp. At the same time, it was mired in almost $23 billion of debt, the result of a leveraged buyout done just before the financial crisis, and struggling to find areas for growth. A pack of ambitious competitors such as Vantiv Inc. and Square Inc., a startup led by Twitter co-founder Jack Dorsey, was nipping at its heels.