Takeovers And Buyouts

Takeovers and Buyouts

The latest deal news from across the alternative investment space.

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FinTech: Stripe Buys Nigerian Payments Processor Paystack For $200M

October 16, 2020

Stripe, the fintech and payments processing giant last valued at $36 billion, has snapped up Paystack, the Nigeria-based international payments processor for a reported $200 million.

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More Stories on Takeovers and Buyouts

Venture Capital: Crowdfunding Peers Crowdcube And Seedrs To Merge

October 6, 2020

Crowdcube and Seedrs, the competing leaders in the UK crowdfunding market, have joined forces.

FinTech: Tech Giant Yandex To Acquire Pole Position In Russia’s Fintech Industry

September 24, 2020

Investors made a bee-line for the stock of Russian technology giant Yandex (NASDAQ: YNDX) after it bid Tuesday for Tinkoff, a leading online bank in the country. Yandex shares touched a record high after analysts and investors apparently thought it was a marriage made in heaven.

Venture Capital: Nvidia To Acquire Arm Holdings From SoftBank In $40B Deal

September 14, 2020

Nvidia (NASDAQ: NVDA) has agreed to acquire Arm Limited from SoftBank Group Corp. (TYO: 9984) and the SoftBank Vision Fund in a $40 billion transaction.

Digital Assets: Nasdaq-Listed Cryptominer Marathon Acquires Fastblock Mining For $22M

August 27, 2020

Marathon Patent Group, Inc. (NASDAQ: MARA) will acquire Fastblock Mining for approximately $22 million in an all-stock deal. Marathon will issue 8,658,009 shares to Fastblock, a mining-as-a-service company, in a private placement transaction. Marathon shares closed Wednesday at $2.54.

Digital Assets: Crypto Exchange FTX Snaps Up Portfolio Tracker Blockfolio for $150M

August 26, 2020

FTX is a cryptocurrency derivatives exchange that offers spot and futures trading on various cryptocurrencies, the world’s first liquid cryptocurrency index future, futures that settle to the absolute change in the price of a coin over time, options, leveraged tokens, and other such innovative crypto products. The institutional-focused exchange acquired Blockfolio, a portfolio tracker that supports over 10,000 cryptocurrencies and blockchain assets across 500+ exchanges.

FinTech: Global Payments Company WorldRemit Acquires Africa-Focused Sendwave

August 26, 2020

WorldRemit, a cross-border and worldwide payments processor, announced Tuesday its acquisition of Sendwave, an app-based remittance company that focuses on recipients in Ghana, Nigeria, Senegal and East Africa.

FinTech: Thomson Reuters Acquires Virtual Courts Platform CaseLines

August 17, 2020

Thomson Reuters (NYSE: TRI) has acquired CaseLines, a digitized, cloud-based judicial platform that manages evidence, court documents, and virtual hearings.

FinTech: Intuit-Credit Karma Deal Under DOJ Lens (ProPublica)

August 4, 2020

According to ProPublica, a non-profit newsroom that investigates abuse of power, the US Justice Department will investigate Intuit Inc (NASDAQ: INTU)’s $7.1 billion acquisition of Credit Karma announced in February. Intuit is an American business and financial software company that develops and sells financial, accounting, and tax preparation software. It has a market capitalization of $81 billion. Credit Karma is a fintech that launched a free tax return service that became a formidable rival to Intuit.

FinTech: Credit Sesame Acquires Canadian Neo Bank STACK After Resounding Success of Sesame Cash

June 17, 2020

In late 2019, Credit Sesame and Canadian challenger bank STACK joined hands to offer Sesame Cash, a checking account service that put users in control of their banking and credit in one place. Since mid-May, when Sesame Cash became available to the general public, more than 200,000 customers signed up in less than a month. Over 62% of Credit Sesame’s 15 million members are interested in the Sesame Cash service. Credit Sesame announced Tuesday its acquisition of STACK.

FinTech: Western Union Is Looking to Acquire MoneyGram International

June 2, 2020

A Bloomberg report says Western Union has made a takeover offer for MoneyGram.
If the transaction succeeds, the two biggest players in the money transfer business in the US would combine. However, the matter is not yet officially public, and Bloomberg quoted a person who asked not to be identified.

Private Equity: Apollo Buys Stake in Albertsons Companies

May 21, 2020

Apollo Global Management (NYSE: APO) announced certain affiliate-led funds drove the purchase of $1.75 billion of convertible preferred stock in Albertsons Companies. The target is one of the largest food and drug retailers in the United States. The investment will represent approximately 17.5% pro forma equity ownership of Albertsons on an as-converted basis.

Liquid Alternatives: The Uber Vs. Grubhub Food Delivery War – ETFs to Profit

May 14, 2020

The Wall Street Journal revealed Tuesday that Uber (NYSE: UBER) is pursuing a takeover of food delivery service Grubhub (NYSE: GRUB) in an all-stock deal. In fact, talks started earlier this year, and according to Bloomberg, the deal could be consummated as early as this month. If successful, Uber’s play for Grubhub would be a gamechanger for the food delivery sector.

FinTech: Cash-rich Revolut on the Prowl for COVID-hit Travel Aggregators

May 6, 2020

Nikolay Storonsky, chief executive of British challenger bank and fintech unicorn Revolut, says his company has “a real opportunity” to benefit from the pandemic. Speaking to the Financial Times, he revealed plans to use his cash hoard to buy corona-strapped, tech rivals.

Venture Capital: Accel Gets Sweet 4X Returns on $1.2B Galileo Exit

April 8, 2020

It’s the third big one in the fintech space within a space of barely four months. In January, Visa (NYSE: V) acquired Plaid for $5.3 billion, followed by Intuit (NASDAQ: INTU) paying $7.1 billion for Credit Karma in February. In the current deal, personal finance company SoFi is buying up Galileo, a Utah-based financial services API and payments platform, for $1.2 billion in cash and stock. Accel, an investor in Galileo, has reportedly romped home with 4X returns.

FinTech: Aussie Telco Software Company ZipTel Acquires Financial Wellness Company Douugh Ltd

March 23, 2020

Ziptel Ltd (ASX: ZIP), an Australian owned and operated telecommunications business that provides international roaming and calling solutions, is changing its business model. It is acquiring the entire share capital of Douugh Ltd, a fintech that helps people achieve financial wellness. On completion of the acquisition, ZipTel’s name would change to ASX: DOU. In this new avatar, ZipTel would become a financial software and services company.

Venture Capital: Salesforce Snaps Up CRM Startup Vlocity For $1.33B

February 26, 2020

Salesforce snaps up CRM startup Vlocity for $1.33B. Vlocity builds CRM systems that are industry-specific, cloud and mobile-based. Vlocity’s industry solutions are communications, media and entertainment, insurance and financial services, health, energy and utilities, and government and nonprofits.

FinTech: The LendingClub-Radius Bank Deal Could be the Precursor to Many More

February 20, 2020

The tables have turned. There was a time when banks sought to acquire fintechs for their technology and customer reach. But the acquisition of Radius Bancorp by LendingClub (NYSE: LC) is the first case of a fintech, the largest of its kind in the country and listed, buying into a bank. And the acquisition makes eminent business sense. It could, therefore, set off a new trend in such deals.

Liquid Alternatives: Franklin Templeton Buys Legg Mason in $6.5B Deal

February 19, 2020

Franklin Templeton will become a $1.5 trillion behemoth after its acquisition, announced Tuesday, of rival Legg Mason for $6.5 billion including debt. It will pay $50 per share of Legg Mason in cash – a premium of $10 over the latter’s Monday closing price. In addition, it will assume $2 billion of the latter’s debt.

Digital Assets: BitGo Goes The Whole Nine Yards; Buys Harbor, Subsidiaries and All

February 19, 2020

BitGo, the leader in crypto custody services, acquires Harbor, the top name in digital securities. It’s a diversification move aimed at a role in the entire transaction chain of digital assets. In the deal, BitGo gets Harbor’s digital securities platform, as well as its broker-dealer and transfer agent subsidiaries. Financial terms of the transaction are not known.

FinTech: LendingClub Is The First Fintech To Acquire a Bank

February 19, 2020

Personal lending platform LendingClub has agreed to acquire FDIC-regulated, Boston-based online bank Radius Bancorp in a cash (75%)-cum-stock (25%) deal worth $185 million. This is the first time that a US fintech has bought up a bank.

Private Equity: Sycamore Partners Eyes Deal to Purchase Victoria’s Secret

February 10, 2020

Sycamore Partners is considering a deal to purchase Victoria’s Secret from L Brands (NYSE: LB). CNBC reported a possible deal Sunday while citing sources close to the matter. Sycamore manages roughly $10 billion in assets and has specialized in brick-and-mortar deals. It has previously worked on deals involving Talbots, Nine West, and Staples.

Private Equity: Black Dragon Capital Buys 100% of Grass Valley, a Media Technology Company

February 6, 2020

Black Dragon Capital, a private equity firm, has agreed to acquire all of Grass Valley from Belden Inc. (NYSE: BDC), reports TVTechnology. According to a statement, Black Dragon intends to take Grass Valley to the next level with a cloud-enabled, software-based business model.  It intends to develop Grass Valley into a market leader in digital media and open and inclusive cloud technology.

FinTech: Another Consolidation Among Legacy Payment Players; Worldline Buys Ingenico

February 5, 2020

With new-fangled fintech disruptors snapping at their heels, two legacy payment processor giants in Europe have joined forces in an $8.6 billion mega-deal. French payment company Worldline will acquire domestic rival Ingenico to create the industry’s number four player.

Private Equity: CITIC Capital Targets Huge Stake in McDonald’s Business in China

January 23, 2020

CITIC Capital, the Chinese private equity firm, is bidding for a 22% stake in the Chinese and Hong Kong businesses of McDonald’s Corp. The firm is looking to put some of the $2.8 billion that it raised for its fourth Chinese buyout fund in August 2019.