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The 21-year-old firm isn’t a startup, and despite its name it isn’t playing in the private space travel game. Earthport is a cross-border payments network. It uses a cloud-based setup to help banks and other financial firms transmit payments for their own customers as an alternative to Swift.
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On Friday morning, Mastercard offered 33 pence per share for Earthport in a deal that values the firm at 233 million pounds ($307 million). That bested an offer Visa’s international arm made on Dec. 27 at a 300 percent premium to the firm’s undisturbed share price. Earthport’s board deemed the Mastercard offer "compelling."
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