U.S. Raises Alarm Over Chinese AI Firms’ Alleged IP Theft Through Model Distillation 
Sun Pharma to Acquire Organon in $11.75 Billion Deal to Boost Global Women’s Health Portfolio 
DeepSeek Launches V4 AI Models with Enhanced Reasoning and 1M Token Context Window 
$16B Michigan Data Center Project Boosts U.S. AI Infrastructure Expansion 
Daiichi Sankyo Stock Drops After Earnings Delay and Oncology Review 
PLS Reports Record Lithium Output as EV Demand Fuels Market Growth 
U.S. Budget Airlines Seek $2.5 Billion Government Aid Amid Rising Jet Fuel Costs 
DeepSeek Slashes AI Model Pricing to Boost Adoption and Challenge Global Rivals 
Taiwan Court Fines Tokyo Electron Unit $4.78M in Major TSMC Trade Secrets Case 
Brazil Pension Fund Crackdown After Banco Master Collapse Raises Investment Concerns 
Kia Cuts EV Prices in Europe as Chinese Carmakers Intensify Competition 
SMC Corp Stock Surges as Palliser Capital Pushes for Major Share Buyback 
Amazon Stock Rises as Meta Expands AWS Partnership for AI Infrastructure 
Why Global Web3 Projects Can't Afford to Skip South Korea: TokenPost Unveils Data-Driven Entry Solutions 
Nomura Shares Drop After Profit Miss Despite Strong Revenue Growth 
Strait of Hormuz Shipping Crisis Deepens as Traffic Plunges Amid Iran-U.S. Tensions 
NEW YORK and WILMINGTON, N.C,, May 09, 2017 -- First Data (NYSE:FDC), a global leader in commerce-enabling technology and Live Oak Bancshares, Inc. (“Live Oak”) (Nasdaq:LOB) parent company to national online lender Live Oak Banking Company and to Live Oak Ventures, today announced a new joint venture to accelerate the growth of next generation digital banking services.
As part of the agreement, First Data and Live Oak will contribute their digital banking platforms, products, and services to the new company, yet to be named. First Data will own 50 percent of the joint venture and Live Oak will own 50 percent.
The deal is expected to close in the third quarter.
About First Data
First Data (NYSE:FDC) is a global leader in commerce-enabling technology and solutions, serving approximately six million business locations and 4,000 financial institutions in more than 100 countries around the world. The company’s 24,000 owner-associates are dedicated to helping companies, from start-ups to the world’s largest corporations, conduct commerce every day by securing and processing more than 2,800 transactions per second and $2.2 trillion per year.
About Live Oak Bancshares, Inc.
Live Oak Bancshares, Inc. (Nasdaq:LOB) is a financial holding company and the parent company of Live Oak Banking Company, a national online platform for small business lending.
Contacts: Brett Caines | CFO Investor Relations 910-796-1645 Micah Davis | Marketing Director Media Relations 910-550-2255 First Data Liidia Liuksila Media Relations 212-515-0174
