By Mark Brousseau
It wasn't that long ago that scores of payments solutions and services providers seemingly were in play, and private-equity firms and big companies were tripping over each other to buy them.
Now with the credit crunch and global recession forcing retrenchment everywhere, PricewaterhouseCoopers forecasts that 2009 will bring "mergers of necessity."
"Troubled companies will look to align with larger, stronger players in order to survive," says Robert Filek, a partner in the consulting firm's Transaction Services group.
Thomson Reuters says the value of announced transactions in the United States was $1.1 trillion for the first 11 months of 2008, down from $1.6 trillion for the same period in 2007.
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