NTT Data to acquire Canada’s Sierra Systems
The acquisition will provide Tokyo-based NTT Data with a “significant” presence in Canada.
Mergers & Acquisitions/M&A
Red Hat to be acquired by IBM in “game changing” $34bn deal
With the acquisition of Red Hat, IBM will become the world’s #1 hybrid cloud provider.
BGL Group acquires PFM app Bean
BGL will buy Saverd, the company behind personal finance management (PFM) app Bean.
Umpqua Bank sells fintech unit to banking tech firm Kony
Kony bucks status quo by acquiring tech from Umpqua Bank.
Purchasing Power takes over DoubleNet Pay
Financial wellness platform DoubleNet Pay has agreed to be acquired by Purchasing Power.
Banking tech and lendtech vendor Sword Apak sold to Sopra Steria
Sword Apak will be merged into the Sopra Banking Software business.
NCR steps into payments with $184m JetPay acquisition
NCR and JetPay anticipate “a smooth transition” for customers, channel partners and employees.
Jack Henry acquires Bolts for digital account opening
US-based Bolts Technologies offers boltsOPEN, a digital account opening solution.
Wanfuteng Bank live with Probanx CorePlus core banking system
Wanfuteng Bank joins 16 other users of Probanx’s CorePlus core banking system across the globe.
Top fintech stories this week – 12 October 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Germany’s Aareal Bank invests in UK real estate platform BrickVest
Second German bank to acquire a stake in the firm.
CDPQ buys stake in fintech provider FNZ for £1.65bn
HIG Capital and General Atlantic sell stakes to Caisse de Depot et Placement du Quebec.
Czech bank Moneta to acquire Home Credit for €767m
Will get its hands on consumer finance provider and retail challenger bank.
H&M fashions itself a $20m stake in Klarna
Fashion chain finds fintech to its liking.
Crypto start-up Circle snaps up SeedInvest
Plans for token marketplace get boost from equity crowdfunding platform.
KKR and Tencent lead $175m investment in Philippines’ Voyager Innovations
“Largest investment to date in a Philippine tech company.”
UK regulators approve CYBG’s takeover of Virgin Money
The CYBG brands will disappear as the new entity will unite under the Virgin Money name.
Banco Sabadell acquires online payments firm PayTPV
Spanish bank’s investments keep growing.
Nacha acquires Business Payments Directory Association
The union seeks to improve B2B payments in the US.
PwC acquires FSCom’s regtech solution
Consultancy firm now owns KYC-Pro.
Societe Generale acquires French fintech Treezor
The firm provides core banking, ID verification and card services.
Top fintech stories this week – 28 September 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
US paytech Elan sold to Fiserv for $690m
Elan comes with revenues of over $170m.
Goldman Sachs to spin off Simon finance app
In advanced talks with several firms to sell its three-year-old app.
Helios takes a shine to TPAY with majority stake
Africa-focused private investment firm gets 76% stake in paytech.
ING invests £5m in UK lendtech Funding Options
Dutch bank also takes minority stake in the SME lending marketplace.
iSignthis acquires core banking tech vendor Probanx for €400,000
iSignthis paid €300,000 in cash and €100,000 in shares for Probanx.
Infosys to acquire Fluido for $76m
Tech firm to buy cloud advisory and consulting services company.
Cinnober to be taken over by Nasdaq for $190m
Nasdaq has made a $190 million all cash offer for Swedish trading tech firm Cinnober.
Church of England considers Wonga buyout
People who say they have morals could be coming to fintech.
KPMG takes stake in credit scorer AdviceRobo
KPMG says it will add AI-based predictive behavioural models to its services for lenders.
Klarna settles into UK with CBRF purchase
Close Brothers Retail Finance comes with a loan book of £66m and 600 merchant clients.
Chain and Lightyear leap into Interstellar blockchain space
Crypto ledger company finally acquired by blockchain tech firm.
SS&C to acquire fintech data provider Intralinks for $1.5bn
Acquisition brings cloud-based virtual data rooms for banking clients.
INTL FCStone acquires Swift Service Bureau from PayCommerce
“This acquisition increases our technological infrastructure.”
Payment Cloud Technologies and Tuxedo Money merge in €70m deal
New firm Omnio to offer cloud-based banking and payment services.
Ebix acquires wealthtech Miles Software for $19m
Mumbai-based firm snapped up by e-commerce service provider.
FIS sells Certegy cheque business
Certegy Check Services sold to Variant Equity Advisors.
Elavon expanding merchant payment line with ETS acquisition
US Bank subsidiary buys Virginia-based Electronic Transaction Systems.
Munich Re acquires IoT player Relayr
Acquisition is via its subsidiary Hartford Steam Boiler.
