It wasn’t spotted on Craigslist but here’s an unusual request. If you are the owner of a small or medium-sized bank in the US and are ready to sell it completely (or partially) – you have a buyer! Vladislav (aka Slava) Solodkiy, managing partner at venture capital (VC) firm Life.Sreda, is being refreshingly direct and […]
US firm Alogent has acquired a Texas-based digital banking tech vendor, Jwaala, for an undisclosed amount. Alogent, which is based in the US state of Georgia, says it will continue to support Jwaala’s collection of solutions, which will be marketed under the new name, Alogent Digital. Dede Wakefield, Alogent CEO, describes the acquisition as “the […]
Raiffeisen, the third largest banking group in Switzerland, is selling its 10% stake in core banking tech vendor Avaloq to private equity firm Warburg Pincus.
Communications compliance and analytics company Actiance has made its exit this week. The California-based company has been acquired by K1 Investment Management, an investment firm focused on acquisition-based growth opportunities, reports Julie Muhn at Finovate (Banking Technology’s sister company). K1 will join Actiance with its rival, Smarsh, which specialises on archiving compliance. The combined company will reach […]
BNP Paribas Asset Management (BNPP AM) has acquired a 10% stake in European credit provider Caple, allowing for a partnership to offer alternative credit to European small and medium-sized enterprises (SMEs).
Amazon is selling off a portion of its cloud computing business in China to a local partner, but the company still plans to compete in what is a growing market for cloud-based services and infrastructure, reports Enterprise Cloud News (Banking Technology’s sister publication). Beijing Sinnet Technology will buy a portion of Amazon’s cloud business for […]
Talend, which specialises in big data and cloud integration, is acquiring the outstanding shares of Restlet SAS, a France-based company that specialises in API design and testing, reports Enterprise Cloud News (Banking Technology‘s sister publication). Although no financial details were released, all 16 members of the Restlet staff along with the company’s founder will join […]
Digital performance management company Dynatrace has acquired Qumram, a digital interaction audit solutions provider, for an undisclosed amount. With the addition of Qumram’s technology and intellectual property, Dynatrace says it will provide the ability to visually replay a user session within its existing platform. Qumram’s product will be re-engineered and will form part of an […]
A major financial institution in India is looking to make a fintech “acquihire” (an acquisition of a company primarily for the skills and expertise of its staff, rather than for the products or services it supplies).
SoftBank has revealed plans to increase its stake in Sprint shortly after abandoning efforts to merge the US telco with local rival T-Mobile US, reports Light Reading (Banking Technology‘s sister company). The announcement came as the Japanese company reported a sharp increase in operating profits for the April-to-September period thanks to investment activities by its $98 […]
Psychometric credit scoring company Entrepreneurial Finance Lab (EFL) has merged with alternative credit score provider Lenddo.
JP Morgan Chase has acquired WePay, a California-based paytech firm, which will function as the payments innovation incubator in Silicon Valley for the bank.
South Africa’s financial services group FirstRand is in takeover talks with Aldermore, a UK-based challenger bank focused on SMEs.
Payment services are all the rage this week, here’s a rundown with this week’s round-up. Featuring Paynear, GoSwiff, BBVA, Omnia Pay and Huawei.
Integration, analytics, and event-processing software company Tibco has agreed to acquire Cisco Data Virtualization (formerly Composite Software), reports Julie Muhn at Finovate (Banking Technology‘s sister company). The solution powers enterprise-scale data virtualisation and offers associated consulting and support services. Tibco will leverage the new solution to “enhance its portfolio of analytics products and will help clients onboard analytics […]
UK based insurer Aviva confirms that it’s acquired a majority stake in robo advisor, Wealthify.
ADP has acquired Global Cash Card, a pioneer in payroll and contract employee payments. The deal gives ADP a proprietary payments processing platform that, it says, provides value-added services for existing clients and will speed time to market for new clients.
US asset management firm Navient will acquire education finance company Earnest for $155 million in cash as it hunts out new markets. As part of Navient, Earnest will continue as a “distinct brand” and will be led by its current management team, including founders Louis Beryl and Ben Hutchinson. Navient says Earnest clients will continue […]
Luminor Bank is the new name and brand for the unified operations of Nordea and DNB in the Baltics region.
Luxoft Financial Services is moving into the Avaloq implementation and consulting business with the acquisition of Unafortis, a Swiss wealth management consultancy firm.
Calligo, a global cloud solution provider, has purchased AMS Systems PSF, a Luxembourg based IT services business that provides managed services and cloud infrastructure to the financial sector. Financial terms were not disclosed but the acquisition means big things for Calligo. Not only does it allow further expansion, but also access to AMS Systems’ technology […]
Social trading company Ayondo may no longer be the first fintech company to go public on the Singapore Stock Exchange (SGX), reports Julie Muhn at Finovate (Banking Technology‘s sister company). That’s because the reverse takeover (RTO) bid offer from Singapore-based property developer, Starland Holdings, lapsed this week. The RTO bid, initiated in June of 2016, was for $117 […]
In response to media speculation, Nordic payments processor Nets has confirmed that it has received a DKK 33.1 billion ($5.3 billion) takeover offer. Evergood 5, a newly formed firm controlled by funds managed and advised by American private equity firm Hellman & Friedman, has made a recommended voluntary takeover offer to acquire Nets – offering […]
Cardtronics’ $460-million purchase of rival ATM provider DirectCash Payments (DCP) has finally been approved by the UK’s Competition and Markets Authority (CMA). Back in May 2017, Cardtronics had to offer undertakings due to competition concerns, and initially didn’t. The CMA said at the time: “As Cardtronics has not offered these undertakings, the CMA will now […]
Digiliti Money (DGLT), which is in merger negotiations with Urban FT, is planning to delist from the Nasdaq, according to its most recent SEC filing.
Core banking tech vendor Ohpen has acquired a fellow Dutch fintech firm, FYNN Advice, which specialises in core banking software implementations.
Berlin-based deposit marketplace Raisin has acquired UK-based fintech specialist PBF Solutions to offer end-to-end deposit raising for UK banks and other providers. The acquisition is the first in Raisin’s history. If you’re not sick of Brexit yet, then Raisin states that “despite current market volatility and Brexit discussions, Raisin remains committed to the UK and […]
Webhelp, a Paris-based customer experience and business process outsourcing (BPO) firm, has acquired fellow French tech company GreenPoint.
EXCLUSIVE: Finastra, which emerged earlier this year from the combination of two banking tech vendors, D+H Corporation and Misys, has made a number of job cuts across its operations.
Digiliti Money (DGLT) may have gotten knocked down, but it’s not out. And neither is a revised bid from prospective buyer Urban FT.
Bob Raffo Jr. has joined the Pay Award-winning prepaid program manager and processor FirstView Financial as president and CEO.
QAWorks, a UK-based technical software testing company, has been taken over by DevOps specialist ECS Digital.
Pension, insurance and investment management firm Aegon has embarked on a large technology project with a number of specialist tech providers – to move the acquired Cofunds business from the International Financial Data Services (IFDS) platform.
Another day, another acquisition—this time with a focus on card-linked offers. London-based Collinson Group, on Sept. 8 announced it’s purchasing “a number of assets” from Boston-based Linkable Networks, including Linkable’s card-linked-offers platform.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Epipoli, the Pay Award-winning Italian gift card distributor with a network of 50,000 stores, has acquired 100 percent of social shopping and offers company Groupalia from entrepreneur Andrea Gualtieri.
France’s BNP Paribas Asset Management (BNPP AM) has acquired a majority stake in Belgium-based robo-advisory company Gambit Financial Solutions. BNPP AM says via the deal it will look to improve its advisory-guided or autonomous interfaces. Gambit will maintain its independence and become the preferred partner for robo-advisory solutions for BNP Paribas’ retail and wealth management […]
Nasdaq will acquire eVestment, a content and analytics provider used by asset managers and investment consultants, for $705 million funded through a mix of debt and cash on hand. According to Nasdaq, eVestment provides investors a database for both traditional and alternative strategies, including 2,800 individual data points on more than 74,000 investment vehicles. eVestment […]
We all knew Canadians were afraid of the dark and that Scots are not always fond of vegetables, but who knew the European Commissioners were wary of foreigners? Reports Telecoms.com (Banking Technology‘s sister publication). In her latest speech, the European Commission’s chief Gaggler for competition Margrethe Vestager, has seemingly set the tone; foreign money isn’t as […]
Fintech zeitgeist! This week Loraine DeBonis, editor-in-chief of Banking Technology’s sister site Paybefore, muses on all the money changing hands in the payments industry.
