Visa has abandoned plans to acquire Plaid, the financial technology company for $5.3bn as reported by TechRadar Pro back in January of last year. The companies announced they were ditching the idea yesterday, citing regulations as the barrier to completing a deal.

In November the US Department of Justice filed a suit to block the deal on the basis of anti-competition interests, placing a wall of regulatory obstacles in place. While Visa appeared to think that a purchase could have eventually been completed the litigation involved in getting it over the line was simply too complex.



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