Discover Financial Services agreed to acquire Diners Club International from Citi for $165 million

. Discover expects by July to close the deal to buy the international network encompassing $30 billion in spend volume outside North America and more than 80,000 commercial and business clients worldwide. The acquisition excludes Diners Club licensees, though French assets and employees are expected to be included shortly. Discover said it would integrate the two payment networks during the next few years to allow Discover cardholders worldwide to use their cards at merchants that accept Diners Club cards, and Diners Club cardholders to use their cards on the Discover Network in North America.