Fiserv completes takeover of Monitise
US tech giant Fiserv has completed its acquisition of Monitise, a UK-based mobile payments software and solutions provider.
Mergers & Acquisitions/M&A
Top fintech stories this week – 1 September 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Fintech firms unrelated to acquisition offer running commentary
For reasons that probably lie in the lack of a marketing and sales budget, the acquisition of payments provider Bantam Banana (don’t ask) by fintech behemoth Moby Trick (founded by Merman Helville) has prompted a flurry of comments from companies that have sweet F.A. to do with the event. Financial terms of the acquisition were […]
Blackhawk Network Acquires CashStar for $175 Million
Blackhawk Network Inc. keeps getting bigger. The Pleasanton, Calif.-based global technology company, has acquired digital gifting specialist CashStar Inc. for approximately $175 million in cash.
Digiliti Money rejects Urban FT offer
Prospective buyer Urban FT, which first announced its desire to acquire mobile app technology company Digiliti Money (DGLT) on 16 August, reports that its revised offer for the company has been rebuffed. DGLT has been silent since 14 August when it announced the delay of its second-quarter earnings report, pending an internal investigation and floating […]
Digiliti Money and Urban FT in “advanced” acquisition talks
Prospective buyer Urban FT Inc. confirmed on Aug. 25 that it’s in “advanced negotiations” with Digitili Money regarding a “potential transaction that will see DGLT stave off potential bankruptcy proceedings.”
Accenture acquires fintech consulting firm Verax
Accenture has acquired Verax Solutions, a Toronto-based technology and systems-integration consulting firm. Financial terms were not disclosed. Verax is a privately-owned company founded in 2003 that employs around 180 people at offices in Toronto and Halifax. Its service areas include IT strategy, enterprise architecture consulting, project and programme management, financial risk and compliance solutions, as […]
InComm to buy Serve platform, become exclusive Amex prepaid distributor
American Express and InComm have entered into an agreement for InComm to acquire the exclusive distribution rights of Amex’s prepaid reloadable and gift card products in the US, including Bluebird and Serve. InComm also will acquire the Serve technology platform and other assets related to the American Express prepaid reloadable and gift card products business. […]
Trustees Australia merges with deposit marketplace Cashwerkz
Financial services group Trustees Australia and deposit marketplace Cashwerkz have merged as they seek to tap into the cash, term deposit and fixed income investments markets. According to the duo, the new entity has access to over 30 Australian banks, and it will be able to compete well in the $2.1 trillion cash deposit market. […]
Blockchain and Bitcoin round-up: 21 August 2017
Hot on the heels of the round-up on 18 August, here’s another blockchain and Bitcoin report. Featuring D+H Corporation (now Finastra), Visa, BTCS and Blockchain Global. A patent filing frenzy seems to be occurring at present. Following on from Bank of America filing three new patents using blockchain earlier this month, we now have D+H […]
Fiserv buys payments software vendor Dovetail
Fiserv has acquired payments software vendor Dovetail as it pushes deeper into the payments infrastructure sector. Financial terms were not disclosed. Through the acquisition, Fiserv says it will combine Dovetail’s real-time payments platform, services and business processing with its payment capabilities. Dovetail had been one of the very few independent fintech beacons in the industry, […]
Fiserv Buys Dovetail for Real-Time Payments Push
Fiserv has acquired payments software vendor Dovetail as it pushes deeper into the payments infrastructure sector and real-time payments. Financial terms were not disclosed.
Blockchain and Bitcoin round-up: 18 August 2017
Quickly following on from the round-up on 16 August, here’s more blockchain and Bitcoin action. Features the Australian government, Blockchain (as in the firm), ShapeShift, Bitstamp and Payza. The Australian government has launched a crackdown on money laundering and terrorism financing – including the digital currency exchange sector being regulated for the first time. The […]
LendingRobot joins NSR Invest to form biggest roboadvisor in marketplace lending
P2P lending roboadvisor LendingRobot will join NSR Invest, creating what it calls “the largest independent roboadvisor in the alternative lending space”, reports Finovate (Banking Technology‘s sister company). LendingRobot explains in its blog that the “websites, operating, and trading systems” of each platform will continue to function as usual for the time being as the companies prepare […]
Top fintech stories this week – 18 August 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
DFCU in $20m upgrade of Infosys’ Finacle core banking system
Uganda-based DFCU Bank is also upgrading its core banking software to the tune of $20 million. DFCU is moving from version 7 of its Infosys’ Finacle core banking platform to version 10.
Urban FT throws Digiliti Money a life raft
Digiliti Money may be able to breathe a bit easier with a new acquisition offer on the table after a tumultuous few weeks.
Industry bullish on promise of fintech – Opimas research
Market players are bullish on the near- and longer-term promise of fintech, according to new research by Opimas, “Fintech Spending and Innovation in Capital Markets”. In 2017, it estimates fintech spending across all capital markets participants to exceed $127 billion.
Retail deposits platform Savedo acquired by fellow fintech Deposit Solutions
Germany-based Deposit Solutions has acquired fellow fintech Savedo. With the acquisition of Savedo, Deposit Solutions gains 18,000+ clients, 13 partner banks and new regions – thus “further expanding its B2C capabilities”.
Top fintech stories this week – 11 August 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Green Dot reports net income jump in Q2, touts fintech deals, acquires secured credit portfolio
Green Dot Corp. reported strong numbers for the quarter ended June 30, 2017, including a 140 percent increase in GAAP net income to $19.3 million, up from $8.0 million over Q2 2016.
Vantiv and Worldpay agree on $10.4bn merger
Vantiv and Worldpay each reported double-digit profit growth on Aug. 9 and announced that their respective boards have agreed to an £8 billion (US$10.4 billion) merger. The combined company, which will be called Worldpay, will be valued at approximately £22.2 billion (US$28.8 billion).
Linedata acquires outsourcing firm QRMO
Linedata has expanded its outsourcing business into Asia with the acquisition of Quality Risk Management & Operations (QRMO), a provider of outsourced middle-office, shadow accounting and risk monitoring services to the asset management and securities industries.
Paysafe agrees to buyout of nearly $4bn
Paysafe Group has reached an agreement to be acquired for £2.96 billion ($3.89 billion) by private equity firms Blackstone and CVC Capital Partners.
Payments round-up: 3 August 2017
Take the pain out of paytech with this brief round-up. Features Seven Bank, BDO Unibank, Earthport, Kotak Mahindra Bank, Payconiq and Digicash Payments.
Two Connecticut credit unions unite on FLEX core banking tech
Two small credit unions in the US state of Connecticut – East Hartford Federal Credit Union and America’s First Network Credit Union – have implemented a centralised core banking platform as part of their merger.
Mortgage tech provider PCLender acquired by Fiserv
Fiserv has acquired PCLender, a US-based provider of “simple, elegant, internet-based mortgage solutions for community banks, credit unions and mortgage bankers”.
LogMeIn buys AI and chatbot provider Nanorep for $45m
Massachusetts-based software provider LogMeIn has acquired Nanorep, a chatbot and virtual assistant company, for $45 million to boost its artificial intelligence (AI)-powered ambitions in customer engagement. Headquartered in Herzliya, Israel, Nanorep uses AI and patented natural language processing technologies for self-service solutions. A number of companies, such as financial software firm Intuit, Vodafone, and non-fintech […]
Vipera acquires SoftTelecom for $1.5m
Mobile financial services company Vipera is acquiring SoftTelecom. The deal is expected to close for $1.5 million (€1.3 million).
SIX buys girocard network
SIX Payment Services is buying the Frankfurt-based girocard network operations business from VÖB-ZVD Processing, a subsidiary of Deutsche Postbank, reports Paybefore, Banking Technology‘s sister publication. The agreement provides for the customer relationships, employees and assets of the network operations business being transferred in full to SIX Payment Services as part of the acquisition. The terms of […]
3SI Security Systems’ European business acquired by Cennox
UK-based banking software specialist Cennox has completed the acquisition of 3SI Security System’s European division.
Worldline to buy Baltics payment processor from First Data for €73m
France’s Worldline is buying 100% of the share capital of First Data’s fully owned subsidiaries in Lithuania, Latvia, Estonia (aka First Data Baltics or FDB) for around €73 million, financed by available cash. This latest deal follows on from earlier this month, when Worldline announced a definitive agreement to acquire 100% of the share capital […]
Banking tech consultant and integrator Sofgen to be absorbed into Tech Mahindra
Sofgen, a Switzerland-based IT consultant and integrator in the financial services and banking space, is undergoing major organisational restructuring. As a result, it will be completely absorbed into its parent, Tech Mahindra, Banking Technology understands.
Softbank eyeing major stake in Uber
Japan’s Softbank is said to have begun talks with Uber about taking a multi-billion-dollar stake in the ride-hailing business.
Nasdaq to buy surveillance provider Sybenetix
Nasdaq will acquire Sybenetix, a surveillance provider that uses behavioural analytics and cognitive computing. The addition of Sybenetix to Nasdaq’s risk and surveillance suite of solutions, including Smarts and TradeGuard, will allow Nasdaq to “bring deeper technology savviness and expertise to buy-side compliance officers across the global capital markets who require future-focused surveillance capabilities to […]
Investment firm Permira buys into Klarna’s banking ambitions
Investment firm Permira will acquire a 10% equity stake in Swedish payments and banking firm Klarna. As part of the deal, Permira will buy shares from existing shareholders General Atlantic, DST Global and Niklas Adalberth, upon receipt of approval from the Swedish Financial Supervisory Authority (Finansinspektionen). Once the transfer is complete, General Atlantic and DST […]
Ingenico Buys Bambora for €1.5 Billion
In payments, the big guys just keep getting bigger and more diversified. Ingenico Group on July 20 announced its €1.5 billion (US$1.74 billion) purchase of Sweden-based payments company Bambora from Nordic Capital.
Mastercard buys in to AI with Brighterion
Mastercard has entered into an agreement to acquire Brighterion, a software company specialising in artificial intelligence (AI), reports Banking Technology‘s sister publication Paybefore. This acquisition follows Mastercard’s March acquisition of NuData Security and will further expand Mastercard’s capabilities to “deliver an enhanced customer experience and security”. Brighterion’s portfolio of AI and machine learning technologies provide real-time […]
Mastercard Buys in to AI with Brighterion
Mastercard has entered into an agreement to acquire Brighterion Inc., a software company specializing in artificial intelligence. This acquisition follows Masterdard’s March acquisition of NuData Security and will further expand Mastercard’s capabilities to “deliver an enhanced customer experience and security.”
Urban FT buys iParse to speed up mobile app onboarding for FIs
Mobile banking technology provider Urban FT has completed its acquisition of US software firm iParse, which, CEO Richard Steggall tells Banking Technology‘s sister publication Paybefore, will help the company provide a “mobile plug-in” for financial institutions. Steggall says the quicker, cheaper option compared with core processing integration will open up feature-rich mobile banking apps to […]
