Circle scraps proposed SPAC deal with Concord
Termination of the merger was approved by the board of directors of both Concord and Circle.
Mergers & Acquisitions/M&A
Thoma Bravo to acquire Coupa Software for $8bn
Coupa says the deal is expected to close in the first half of 2023.
Microsoft buys 4% stake in LSEG, pair to develop data analytics solutions
LSEG has also committed to a $2.8bn cloud-related spend with Microsoft over the life of the 10-year agreement.
US paytech Cantaloupe buys Three Square Market for $41m
The acquisition was funded with 90% cash and 10% stock.
TreviPay to acquire fellow US paytech Apruve for undisclosed sum
With the acquisition, TreviPay plans to expand its B2B payments network.
Intuit snaps up credit building start-up SeedFi
The deal will see SeedFi become part of Intuit’s Credit Karma business.
HSBC to sell its Canada business to Royal Bank of Canada for $10bn
The transaction is expected to complete in late 2023.
Quantifeed to acquire fellow wealthtech Alpima
Together, Quantifeed and Alpima will create “a world-class technology platform”.
Japanese paytech unicorn Opn acquires US firm MerchantE
Both firms will share technology and best practices, as well as jointly develop new products and services.
Climate First Bancorp acquires ESG data platform Ecountabl
Ecountabl indexes data on more than 10,000 companies, analysing their ESG performance.
Tax software firm SurePrep snapped up by Thomson Reuters for $500m
SurePrep is expected to generate approximately $60 million of revenue in 2022.
FinTech Futures: Top five stories of the week – 11 November 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Binance nixes mooted FTX acquisition deal
In a tweet, Binance says “we have decided that we will not pursue the potential acquisition of FTX.com”.
MeridianLink acquires mortgage software solutions provider OpenClose
MeridianLink says the deal will enable their customers “to deliver fast, frictionless mortgage lending experiences”.
Binance signals intent to acquire rival crypto exchange FTX
FTX’s CEO wrote on Twitter that a “strategic transaction” has been hashed out with Binance, pending due diligence.
Ampla Technologies acquires B2B BNPL firm Upside Financing
Ampla says the acquisition will open up a B2B BNPL market that is worth an estimated $1 trillion.
US real estate platform Prevu buys mortgage tech from shuttered Reali
With the acquisition, Prevu aims to expand its digital buying platform to include mortgage services.
TIAA agrees to sell its banking arm to suite of investors
The firm says the move will allow it to “refocus” on its retirement business.
Bakkt set to buy Apex Crypto in deal worth up to $200m
Bakkt is aiming to “significantly bolster” its cryptocurrency product offering and serve more clients.
Paytech Form3 lands €23m venture debt facility from Atempo Growth
The funding will enable Form3 to explore potential M&A opportunities and launch in new markets.
eToro snaps up portfolio management platform Bullsheet
Bullsheet helps eToro users keep track of stocks and analyse the risk and diversification of their portfolio.
InComm Payments buys Australian gift card provider TCN
The firm says the acquisition will boost its ability “to create personable gift card products that consumers seek”.
US Bancorp gets US regulatory approval for MUFG Union Bank acquisition
The firm has received approval from the Federal Reserve and the Office of the Comptroller of the Currency (OCC).
LatAm paytech Kushki acquires Mexico’s Billpocket
Kushki says Billpocket will help it grow its paytech business threefold in Mexico.
FinTech Futures: Top five stories of the week – 7 October 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Taiwan’s Taichung Commercial Bank to acquire American Continental for $82m
The transaction is expected to close in the first quarter of 2023, subject to regulatory approvals.
Banking Technology Magazine October 2022 issue out now
Cover story: INVESTING IN THE FUTURE – Putting money in the right places.
SME financing platform Rapid Finance acquires lendtech firm Thrive
Rapid Finance says Thrive “represents a significant addition” to the company.
Global PSP Worldline obtains 40% stake in Dutch Online Payment Platform
OPP founder and CEO between them own the remaining 60% of the company.
Voyager Digital to sell its assets to FTX US for $1.4bn
Voyager Digital filed for bankruptcy protection back in July.
Billtrust snapped up by EQT Private Equity in $1.7bn deal
The deal, set to close in Q1 2023, will see Billtrust become a private company.
Fitch Group to acquire majority stake in data and analytics firm dv01
The acquisition, for an undisclosed sum, is expected to close by the end of Q3.
Banc of California buys Deepstack Technologies for $24m
Banc of California paid $24 million for the acquisition, with 70% in cash and 30% in stock.
Enterprise tech provider NCR to split into separate digital commerce and ATM firms
NCR says the split will “unlock value” for the company’s shareholders.
FinTech Futures: Top five stories of the week – 16 September 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Bottomline acquires AP automation and real estate payments specialist Nexus Systems
Nexus’ procure-to-pay solution, customers and suppliers will join Bottomline’s Paymode-X B2B payments network.
JP Morgan to acquire US paytech firm Renovite
Once the acquisition is complete, Renovite will become part of JP Morgan Payments.
US paytech Aurora snaps up One Payment
Aurora CEO Brian Goudie says the deal “adds significant value” to his firm.
FNZ set to acquire German wealthtech provider Diamos
The acquisition will equip FNZ with additional wealth management product and service solutions.
FinTech Futures: Top five stories of the week – 9 September 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
