JPMorgan snaps up tax automation fintech 55ip
“Advisors are increasingly seeking intelligent, automated tools,” says bank.
Mergers & Acquisitions/M&A
UniCredit CEO to step down in 2021
Jean Pierre Mustier calls it quits after butting heads with board.
Web Summit 2020: A fintech summary
Stripe is looking at products around digital identity.
What the Fintech? Episode 17 | The spirit is willing, but the markets are weak
This episode of WTF? podcast features Vinoth Jayakumar, partner at VC firm Draper Esprit.
S&P Global could buy IHS Markit for $44bn
S&P Global’s shares have risen 25% in New York this year alone.
JP Morgan and Lloyds considering acquisition of UK challenger Starling Bank
Pair of major banks interested in Starling Bank’s potential following profit announcement.
London payments firm SumUp buys digital PoS fintech Goodtill
SumUp and Goodtill have worked together “for many years as partners”.
Spanish mega-merger off the cards as BBVA and Sabadell call it quits
The two banks couldn’t agree price over a major combination.
Credit Karma secures $7.1bn Intuit acquisition, sells tax ops to Square
Square enjoyed a 4% jump in stock market value following the announcement.
South African BaaS provider Ukheshe to acquire local fintech Oltio
Oltio is a smaller South African firm which hosts QR code payments for Mastercard.
FNZ acquires investment solution vendor Silica from Ninety One
Silica claims to service more than 1.3 million investor accounts.
Santander to pay €100m for Wirecard’s core European business
The deal means the bank can expand its payment solution across Europe, says Santander’s CEO.
Nexi’s acquisition of Nets creates Europe’s largest payments firm by volume
Nexi is “uniquely positioned to catch further M&A opportunities”, says CFO.
PNC buys BBVA’s US arm for $11.6bn creating America’s fifth-largest bank
PNC expects the acquisition will generate around $900 million in cost savings.
United Fintech launches in UK and acquires NetDania
Danish fintech NetDania supplies forex and trading technology and data.
US Department of Justice moves to block $5.3bn Visa-Plaid deal
US regulator files lawsuit against Visa, accusing it of monopolistic tactics.
UK’s PayPoint to make double acquisition worth £70m
PayPoint currently boasts a 9,000-customer strong card payment estate.
Nordic Capital acquires RegTech from BearingPoint
Private equity group plans to boost RegTech’s international footprint.
Oracle gains new Flexcube deals in Middle East and Africa
Technology vendor signs a selection of new clients.
NerdWallet makes second acquisition in 2020 with Fundera
The deal with Fundera sees NerdWallet continue to diversify its business.
Worldline completes $8.6bn acquisition of Ingenico
Worldline claims to have created the world’s fourth-largest payments firm.
Alliance Data to buy BNPL fintech Bread for $450m
The acquirer expects the deal to increase its earnings per share by 2023.
India’s Wipro to buy Finastra partner Encore Theme Technologies
Encore Theme claims to be one of Finastra’s “fastest growing partners”.
Calastone acquired by US private equity firm Carlyle Group
Financial details of the agreement have not been disclosed.
Nets completes acquisition of major Polish card payment processor
“Poland is one of the most attractive regions in Europe” for digital payments.
US holding firm Syncapay buys Wirecard’s North America business
Wirecard put the market value of its North American business at €824m.
PayPal weighs up crypto acquisitions following major wallet update
BitGo had a valuation of around $170 million in 2018.
Major Indian IT firm TCS in talks to buy Deutsche’s Postbank tech unit
Postbank Systems provides IT services to Postbank, which Deutsche bought back in 2010.
Thoma Bravo buys majority stake in risk and reporting firm AxiomSL
AxiomSL’s services cover more than 110 regulators across 55 jurisdictions.
Russia’s Yandex and Tinkoff scrap $5.5bn deal
Internal email suggests agreement was lost on nature of the merger.
Stripe acquires Nigerian start-up Paystack in $200m deal
Paystack has 60,000 business customers across Nigeria and Ghana.
Bravura Solutions acquires Delta Financial Systems in £23m deal
Aussie fintech expands reach in the UK with Delta acquisition.
Bulgaria’s Paynetics swoops in to buy part of Wirecard UK and Ireland
“Paynetics showed up as the white knight,” says Wirecard.
Goldman Sachs to buy General Motors’ credit card portfolio
Goldman reportedly beats Barclays to nab consumer credit pool worth $8.5bn.
Seedrs reveals £4.6m losses day after Crowdcube merger
Crowdcube’s acquisition of Seedrs is set to create a £140 million equity crowdfunding player.
Japan’s NEC buys Swiss core banking firm Avaloq in $2.2bn deal
Major investor Warburg Pincus currently owns 45% of Avaloq.
Nexi and SIA seal €15bn mega-merger to form “Europe’s largest” payments provider
The two have around two million merchants, and around 120 million cards.
Jumio acquires Beam Solutions’ AML technology
Identity firm plans to boost its KYX platform.
MineralTree raises $50 million, acquires Inspyrus and Regal Software
Accounts payable firm plans to take firm grip of mid-market segment.
Yandex plans $5.5bn acquisition of Russian neobank Tinkoff
Russian tech giant plans to snap up the country’s largest online bank.
