First Data is now Fiserv We are proud to announce that Fiserv and First Data are now combining, creating the world's leading provider of financial and payment technology and promoting our customer value proposition. First Data's original headquarters, where the company remained established until 1992, was in Omaha, Nebraska. Since its incorporation, Bisignano has sought to transform First Data into a provider of new technology for small and medium-sized businesses. Going forward, First Data will be a major service provider supporting Bank of America's global payment solutions.
ICICI Merchant Services with First Data offers 3D Secure merchant services together with MOTO Machine to merchants and stores to process credit card payment. With its integration into First Data's STAR network, the company became a token service provider, supporting secure point-of-sale transactions on Apple Pay. Now, when the deal is closed, First Data shareholders will receive 0.303 of a Fiserv share for each share of First Data common stock they hold before the market opens starting July 29, which will be tax-free for First Data shareholders. Fiserv processes credit and debit card transactions for banks, while First Data handles the business side of the equation.
That strategy includes leveraging both Fiserv's core business and First Data's new assets to streamline user payments by acting as a clearing house between merchant and user accounts. Fiserv's investors will own 57.5% of the combined company when the transaction is closed, while First Data's shareholders will own the rest. Evercore serves as financial advisor to the independent directors of First Data's board, and Latham& Watkins LLP serves as legal counsel to the independent directors of First Data's board. As previously announced, First Data shareholders will receive 0.303 of a Fiserv share for each share of First Data common stock they hold before the market opens starting Monday.
First Data has long relied on banks to attract business customers in its own way, yet many companies are turning to Square and other upstart rivals. Fiserv and First Data assume no obligation to update any forward-looking statements, which only relate to the date of this press release. Fiserv and First Data provide a range of technological services to banks, merchants and other companies involved in the business of moving money.