The UK’s Competition and Markets Authority (CMA) has finally decided that Intercontinental Exchange (ICE) should sell Trayport to preserve competition in wholesale energy trading. As Banking Technology reported in August, the CMA “provisionally” found ICE’s acquisition of Trayport may give rise to competition concerns. After lengthy investigation, CMA says: “As a result, ICE will now […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Two recent deals further demonstrate the fertile M&A field in the payments space worldwide. London-based JAR Capital Limited has announced plans to acquire Gibraltar-based e-money issuer IDT Financial Services. Meanwhile, technology provider ScanSource Inc. has agreed to buy POS Portal, a Sacramento-based payment terminal and P2PE encryption technology provider that focuses largely on the SMB market.
Visa is investing in Klarna, a Swedish payments and banking firm, and the two firms intend “to develop a future strategic partnership”.
Softbank has upped its investment in security firm Cybereason, as the focus on artificial intelligence (AI) continues.
Misys and DH Corporation (D+H) have joined forces to create Finastra, the third largest financial services technology company in the world. As reported in March, D+H was acquired by Vista Equity Partners for $3.6 billion. The venture capital firm, which owns UK-based banking software vendor Misys, beat rival Advent International to acquire D+H. Finastra will […]
Swiss core banking software vendor Avaloq is prepared to tap into the potential of blockchain and Bitcoin over the next 12 months as it seeks to experiment and innovate more in these areas.
US tech giant Fiserv has offered to buy Monitise, a UK-based mobile payments software and solutions provider. The cash offer to acquire is at 2.90 pence per share – valuing Monitise at approximately £70 million.
Japanese tech conglomerate SoftBank continued its drive to take centre stage in the evolution of the tech industry with the acquisition of Boston Dynamics from Google/Alphabet. Telecoms.com (Banking Technology‘s sister publication) reports that Boston Dynamics has been a fairly high profile robotics pioneer in recent years, specialising in humanoid and quadrupedal machines apparently designed to […]
Following Airbnb’s acquisition of crowdfunding and social payments start-up Tilt in February, it is now being wound down. Tilt (formerly Crowdtilt) was built with the aim to allow groups and communities to collect, fundraise, or pool money online. It was founded five years ago with high hopes. Its co-founder and CEO James Beshara said at […]
Deloitte has acquired design consultancy firm Market Gravity as it looks for a lift and the chance to moisten its creative juices. Founded in 2009 and headquartered in London with teams in New York, Edinburgh and Toronto, Market Gravity works across multiple sectors including financial services, retail, energy, telecoms and automotive. It recently helped UK-based […]
First Data will buy U.S.-based payments processor CardConnect for about $750 million in cash, including the repayment of debt.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Pan-European exchange Euronext will acquire about 90% of FastMatch for $153 million as part of its expansion plans in the $5.1 trillion daily foreign exchange (FX) market. FastMatch’s management will retain about 10% interest, with minority rights. Closing is subject to regulatory and anti-trust approvals, and is expected to occur in Q3 2017. Stéphane Boujnah, […]
Apple has reportedly made another sly move into the world of artificial intelligence (AI) through the $200 million acquisition of dark data firm Lattice, reports Telecoms.com (Banking Technology’s sister publication). The purchase has been brought to light by TechCrunch, and will add a small, but respected team of AI engineers to the ranks of the […]
Say goodbye to long reads with this brief round-up of the latest buys in the fintech world. Features KPMG, Matchi, Ancoa, Cinnober, Valitor, International Payment Services and AltaPay. KPMG has acquired Matchi, a matchmaking platform that connects financial institutions with fintech companies. The pair have worked together since 2015, so the deal “cements” their relationship. […]
It’s been expected for a while, but Verizon’s sale to IBM confirms the giant has officially given up on the cloud.
Oracle has continued its quest to buy its way into the cloud game with the acquisition of ad tracking company Moat for a reported $850 million.
The latest fintech funding round-up featuring Token, Ongo, National Bank of Canada (NBC) and a bunch of venture capitalist firms.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Mastercard gets approval to buy VocaLink for $920m Deal expected to close in coming weeks. Bank of England implicated in Libor rigging by secret recording Well, it was secret. FIS sheds Ambit Private Banking business FIS inherited it […]
What does Russell Simmons know that banks don’t? GPR can be profitable. Find out how.
The U.K.’s Competition and Markets Authority gave its blessing April 11, enabling Mastercard to complete its acquisition of 92.4 percent of VocaLink Holdings for $920 million. The deal, which is expected to close within weeks, gives Mastercard control of a large portion of the U.K. transaction processing market.
UBS is selling its risk and performance analytics service, UBS Delta, to StatPro Group, a provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry.
Mastercard will acquire Vancouver-based biometrics firm NuData Security as it looks to make something out of the internet of things (IoT). NuData provides online and mobile anti-fraud solutions using session and biometric indicators. Mastercard will integrate NuData to its suite of fraud management and security products. Ajay Bhalla, president of enterprise risk and security for […]
Oracle is exploring the feasibility of buying consultancy giant Accenture, and has hired specialists to that effect, it is understood.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Money transfer giant MoneyGram can give further consideration to Euronet’s surprise bid to acquire the company from under the nose of Ant Financial, which in January entered a definitive agreement to buy MoneyGram.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Another bell has tolled for the mobile payment service operated by the nearly 3-year-old MCX, a consortium of large retailers. JPMorgan Chase, whose own Chase Pay mobile wallet has been making serious strides, has acquired the technology that underpins CurrentC, the MCX mobile payment product that never went beyond pilot stage.
Canada’s banking software firm DH Corporation (D+H) is to be acquired by Vista Equity Partners and merged with Misys. The deal is reported to be worth CA$ 2.5 billion ($1.9 billion).
Wirecard AG has finalized its acquisition of Citi Prepaid Services.
Who’s buying who? Featuring Broadridge, Message Automation, Numerix and TFG Financial Systems.
Accounting and consulting firm Arthur Andersen, the folks who audited Enron, is back with 26 offices in 16 countries on five continents. In case you had forgotten; back in 2002, the company voluntarily surrendered its licences to practice as Certified Public Accountants in the US after being found guilty of criminal charges relating to the […]
Last year was a challenging one for fintech. The Brexit vote, the US presidential election, the slowdown of the Chinese economy, and fluctuations in exchange rates forced investors to tread cautiously, according to KPMG’s latest report “The Pulse of Fintech Q4 2016”. Despite a decline in overall fintech investments, 236 M&A transactions were recorded worth […]
The Depository Trust and Clearing Corporation (DTCC) has agreed to sell its Clarient Global and Avox businesses to Thomson Reuters.
Barclays is embarking on a major back office operations overhaul, with the creation of a standalone company, Barclays Services.
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
It’s official: Green Dot will spend at least $167 million to buy UniRush.
Ant Financial Services Group, the online and mobile financial services affiliate of Chinese e-commerce giant Alibaba Group, has just become a competitive juggernaut in the remittance business with the acquisition of MoneyGram, the second-largest provider of money transfer services based in the U.S. The transaction of approximately $880 million for all of MoneyGram’s common and preferred shares announced Jan. 26, not only helps MoneyGram compete with Western Union, it helps the combined company compete with startups that have been trying to shake up the market for years.
BNP Paribas Securities Services has acquired a minority stake in an Fortia Financial Solutions. This deal helps Fortia, a start-up that provides compliance software to the financial services industry, cement the relationship it formed with the bank during the inaugural session of the fintech accelerator by L’Atelier BNP Paribas.
