Mergers and acquisitions

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/Mergers and acquisitions

Trading Technologies expands into clearing with acquisition of ATEO

Trading Technologies International, Inc. (TT), a global capital markets technology platform provider, today announced a definitive agreement for TT to acquire ATEO SAS, a leading provider of post-trade solutions for listed derivatives, expanding TT's reach into clearing and other middle-office technologies and services.

/payments

Oliver Wyman to acquire Innopay

Oliver Wyman, a global management consulting firm and a business of Marsh McLennan, announced today that it has reached an agreement to buy Innopay, a leading consultancy firm specialised in digital transactions. Innopay will complement Oliver Wyman’s existing payments consulting capabilities. Terms of the transaction, which is expected to close before the end of the first quarter of 2024, were not disclosed.

Tesco Bank sells credit cards, loans and savings operations to Barclays

/retail

Tesco Bank sells credit cards, loans and savings operations to Barclays

The £600 million deal has an "initial" agreement lasting 10 years.

/wholesale

Hiline buys Calculate to expand outsourced financial ops offering

Hiline, a leading provider of financial-operations-as-a-service that helps growth-minded organizations manage risk, improve outcomes, and make better decisions, today announced it acquired Calculate, a New York-based outsourced accounting and finance firm dedicated to supporting the financial processes at emerging companies.

Crypto custodian BitGo moves into private securities with Brassica acquisition

/crypto

Crypto custodian BitGo moves into private securities with Brassica acquisition

Crypto custody specialist BitGo has acquired Brassica, a fintech specialising in providing back-end infrastructure services for private securities and alternative investments. Financial terms were not disclosed.

Entrust opens talks to take over Onfido

/identity

Entrust opens talks to take over Onfido

Entrust, a provider of security services for payment cards, passwords and access controls, has confirmed that it has entered exclusive negotiations to acquire ID verification outfit Onfido.

Cred moves into wealth management with acquisition of Kuvera

/wealth

Cred moves into wealth management with acquisition of Kuvera

Indian fintech giant Cred is to move into the wealth management market with the acquisition of mutual fund and stock investment platform Kuvera.

UK fintech investment down 34% in 2023

/startups

UK fintech investment down 34% in 2023

Total UK fintech investment dropped to $12.3 billion in 2023, down 34% from $18.7 billion in 2022, according to KPMG’s Pulse of Fintech, a bi-annual report on fintech investment trends

Oz payments firm Fat Zebra buys open banking outfit Adatree

/payments

Oz payments firm Fat Zebra buys open banking outfit Adatree

Australian payments infrastructure provider Fat Zebra has acquired local open banking technology platform Adatree. Financial terms were not revealed.

/Mergers and acquisitions

Giesecke+Devrient increase stake in Netcetera to 95 percent

Giesecke+Devrient (G+D) is expanding its digital portfolio in the financial platforms business by increasing its stake in the software company Netcetera.

/payments

Blackhawk Network to buy Tango Card

To further enhance the power of its global rewards platform, branded payments provider Blackhawk Network (BHN) today confirmed that it has entered into a definitive agreement to acquire digital B2B gift card rewards innovator Tango Card (Tango).

Ramp expands procurement capabilities with Venue acquisition

/startups

Ramp expands procurement capabilities with Venue acquisition

Finance automation platform Ramp has expanded its procurement capabilities through the acquisition of Sequoia-backed startup Venue. Financial terms were not disclosed.

/payments

Italian fintech Opyn on the hunt for M&A opportunities

Opyn, leading Italian Lending-as-a-Service platform, scales up in the European Union, Switzerland, and the UK with its proprietary Buy Now Pay Later solution for B2B, Opyn Pay Later, and targets M&A opportunities.

/retail

IeDigital acquires AI fintech software house Abaka

ieDigital has today announced the acquisition of ABAKA, the AI - recommendation engine platform which uses machine learning and behavioural segmentation software to predict which products – such as banking products, savings accounts or retirement solutions – are the most likely to be bought by financial services consumers.

Objectway buys Canada's Nest Wealth

/wealth

Objectway buys Canada's Nest Wealth

Italian software and services provider to banks and asset and wealth managers Objectway is making moves into North America through the acquisition of Canadian firm Nest Wealth. Terms were not disclosed.

/payments

Synchrony to acquire Ally Financial's point-of-sale financing business

Synchrony (NYSE: SYF) and Ally Financial Inc. (NYSE: ALLY), today announced that they have entered into a definitive agreement for Synchrony to acquire Ally's point of sale financing business including $2.2 billion of loan receivables.

/markets

TRG Screen buys Xpansion

TRG Screen, the leading provider of enterprise subscription spend and usage management software, today announced it has acquired Xpansion, the leading provider of cloud-based solutions for reference data usage monitoring in the financial services industry.

/payments

Accept Cards becomes employee owned

Leading payments broker Accept Cards - which works with more than 260 accountancy and financial services firms in the UK - has become employee owned, with all the shares transferring to an Employee Ownership Trust (EOT).

EquiLend to be acquired by PE firm WCAS

/markets

EquiLend to be acquired by PE firm WCAS

EquiLend, the securities lending trading platform owned by 10 major Wall Street firms, is being acquired by private equity firm Welsh, Carson, Anderson & Stowe (WCAS).

/retail

Getsafe Acquires EQT-backed student loan platform deineStudienfinanzierung

Getsafe, Europe’s leading neo-insurer based in Germany with over 550,000 customers, has acquired deineStudienfinanzierung, Germany’s number 1 digital platform for student loans.

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