Takeovers And Buyouts

Takeovers and Buyouts

The latest deal news from across the alternative investment space.

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FinTech: Rocket Companies Buys Personal Finance App Truebill For $1.275B

December 20, 2021

Rocket Companies (NYSE: RKT) announced today its acquisition of Truebill, the personal finance app, for $1.275 billion in cash. The deal will bring Truebill’s 2.5 million members as potential clients to the Rocket platform, and add $100 million in annual recurring revenue to Rocket’s $1.3 billion of annualized servicing fee income.

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More Stories on Takeovers and Buyouts

Artificial Intelligence: Zurich Insurance Snaps Up AlphaChat To Automate Customer Service

December 20, 2021

Zurich Insurance Group has acquired Estonia-based company AlphaChat, which provides conversational artificial intelligence (AI) technology for customer service automation. The terms of the acquisition were not disclosed.

FinTech: Deal-Making In The LatAm Payments Space

December 16, 2021

The Latin American fintech industry saw two acquisitions this week, one each in Chile and Brazil. Santiago, Chile-based Mercado Libre (NASDAQ: MELI), a POS market player in Latin America, acquired Redelcom. In Brazil, Sao Paulo-based, Advent-backed Ebanx acquired Brazil-based international money transfer firm Remessa Online for $229 million.

FinTech: Circular Economy-Focused Twig Buys Loopster, A Marketplace For Pre-Loved Clothing

December 13, 2021

London-based fintech Twig describes itself as “the next generation banking, powering the circular economy,” that enables you “to turn your things into cash, instantly.” In a strategic move designed to broaden its offerings, Twig announced Friday its acquisition of Loopster, a marketplace that pays upfront for clean, unwanted clothes. Like Twig, Loopster encourages customers to join the circular economy and close the loop between use and reuse of clothes.

Artificial Intelligence: Philips Snaps Up Cardiologs For Its AI-Empowered Cardiac Diagnostics

November 9, 2021

Royal Philips (NYSE: PHG) is making another advance into high technology cardiac diagnostics with its acquisition of Cardiologs, A France-based medical technology company that uses AI and cloud technology for cardiac diagnostics. Philips said the acquisition, the terms of which were not disclosed, was an excellent fit with its existing cardiac care portfolio.

FinTech: Klarna Acquires PriceRunner To Boost Shoppers’ Searches

November 2, 2021

Klarna, the BNPL that is valued as a quadradecacorn, announced today its acquisition of price comparison site PriceRunner to enhance the Klarna app via new features including product reviews, rich product discovery and price comparisons.

FinTech: In South Africa, Nasdaq-Listed Net1 Acquires Connect Group For $242M

November 1, 2021

Net 1 UEPS Technologies Inc (NASDAQ: UEPS) has agreed to acquire all of South African fintech Connect Group for US$242 million in a bid to expand its market and acquire scale as the biggest fintech platform in the country.

Fintech: Pawn Store Operator FirstCash Acquires BNPL And POS Fintech American First Finance For $1.17B

October 29, 2021

FirstCash, Inc (NASDAQ: FCFS) operates more than 2,800 retail pawn stores in the U.S. and Latin America and is a retailer and provider of financial services to underserved customers. It announced Thursday its $1.17 billion acquisition of American First Finance (AFF), a financial technology firm, in a bid to enter the buy-now-pay-later (BNPL) business.

FinTech: PayPal Looking To Acquire Pinterest At $70 Per Share

October 20, 2021

PayPal Inc (NASDAQ: PYPL) sounded out Pinterest (NYSE: PINS) recently on a takeover, Bloomberg reported. The two companies are said to have considered a potential price of $70 per listed Class A share.

FinTech: JPMorgan Chase Acquires College Financial Planning Platform Frank

September 22, 2021

JPMorgan Chase & Co (NYSE: JPM) has acquired Frank, a very popular college financial planning platform for undisclosed terms. Frank enables students to locate, apply and obtain financial aid, find scholarships, and enroll in online courses. According to CNBC, JPMorgan bought up the fintech to enhance relationships with students and their parents.

FinTech: Goldman Sachs Snaps Up BNPL Fintech Greensky For $2.24B

September 16, 2021

Goldman Sachs (NYSE: GS) announced Wednesday its all-stock acquisition of GreenSky (NASDAQ: GSKY), a fintech lender specializing in BNPL home improvement loans, for $2.24 billion. Goldman Sachs said the transaction would help accelerate its efforts to “create the consumer banking platform of the future.”

Artificial Intelligence: Automated Kitchens Pioneer Spyce Acquired By Salad Chain Sweetgreen

August 26, 2021

Three college students launched sweetgreen to offer a solution to a very unpalatable dilemma – eat food that was slow, expensive, and fresh—or fast, cheap, and unhealthy. The result was a fast casual salad chain that used fresh, organic produce and has grown to over 130 restaurants. Sweetgreen announced Tuesday its acquisition of Spyce, a startup with a similar vision for serving healthy and fresh food – only more automated.

Alternative Investments/ESG: Goldman Sachs To Acquire ESG-Focused NN Investment Partners

August 23, 2021

Goldman Sachs (NYSE: GS) has agreed to buy all of NN Investment Partners, a Netherlands-based asset manager with $355 billion in assets under management and about $70 billion in assets under advisement. NN Investment Partners is the money management arm of Dutch insurer NN Group NV (AEX: NN) and 75% of its assets under supervision are ESG integrated.

Artificial Intelligence: SAP Acquires SwoopTalent For Its AI-Powered HR Platform

August 17, 2021

SwoopTalent, an AI-powered platform that combines, analyzes and trains data from disparate human resource (HR) systems and workflows, has been acquired by SAP (NYSE: SAP), the German multinational software maker known for its ERP system. The terms of the transaction were not disclosed.

FinTech: M&A Deals Of Note

August 11, 2021

Three transactions this week cover bill payments, investment communications, and paperless invoices. Fintech M&A to note: Payveris-Paymentus Payveris, an open-API, cloud-based digital payments and money movement platform for financial institutions and their digital partners has acquired Paymentus, an integrated, omni-channel platform for electronic bill payments. The transaction value is $152.2 million, with approximately 56% payable…

FinTech: Blockchain-Based Fintech Figure Technologies To Merge With Homebridge

August 4, 2021

Mike Cagney-led Figure Technologies announced Tuesday (3 August 2021), its merger deal with Homebridge Financial Services, a mortgage lender which funded more than $25 billion in home loans at the close of 2020. Figure Technologies is on a mission to transform financial services using blockchain technology, particularly the origination, finance, servicing and trade of loans. you know

FinTech: Square Plonks Down $29B For Aussie BNPL Giant Afterpay

August 2, 2021

Jack Dorsey-led Square (NYSE: SQ) announced today (August 2, 2021) its acquisition of Australian fintech and buy-now-pay-later (BNPL) leader Afterpay (ASX: APT) for $29 billion in an all-stock deal. Square will acquire all the outstanding shares of Afterpay at this valuation based on the closing price of Square common stock on July 30, 2021.

FinTech: Bankers Fight For Wealth Management Turf; Lloyds Acquires Embark For $500M

July 30, 2021

Lloyds Banking Group (LON: LLOY) announced Thursday (July 29, 2021) the acquisition of Embark Group, an investment and retirement platform business, for £390 million (US$500 million). Embark will become a wholly subsidiary of Lloyds’ Scottish Widows Group, bringing with it about £35 billion of assets under administration on behalf of 410,000 consumer clients. Jackie Leiper, Managing Director Pensions, Stockbroking & Distribution at Scottish Widows, will become CEO of Embark.

FinTech: Visa To Acquire European Open Banking Platform Tink For $2.2B

June 24, 2021

Visa (NYSE: V) announced Thursday its deal to acquire European open banking platform Tink for €1.8 billion ($2.2 billion) as it moves to take advantage of European Union law – the revised Payment Services Directive (PSD2) – which facilitates open banking. The law requires banks to allow access to customer data by registered third-party providers to boost competition.

FinTech: Fintech Credijusto Snaps Up Mexican Bank; Becomes Regulated Neobank

June 18, 2021

According to Entrepreneur, Credijusto, the Mexican fintech and lending platform acquired Banco Finterra for about $50 million, in the process bagging a banking license. Banco Finterra specializes in financing solutions for the agri-food sector.

Artificial Intelligence: Clinical Stage Pharmatech Startup Exscientia Acquires AI-Powered Allcyte

June 15, 2021

Exscientia, which uses AI to design and create drug candidate molecules satisfying complex therapeutic requirements with revolutionary efficiency, has acquired Allcyte, the Austrian company that uses AI for cancer screening. Exscientia will pay 50 million euros ($60.6 million) in a combination of cash and shares for the acquisition.

Artificial Intelligence: Eye Tracking Company Smart Eye Acquires Emotion Detection Software Firm Affectiva

May 27, 2021

Affectiva says 9 people are killed every day and 1,000 are injured due to distracted driving. 6,000 people are killed annually due to drowsy driving. Its Affectiva Automotive AI is an In-Cabin Sensing software that measures in real-time the state of the cabin, and that of the driver and occupants in it. Swedish company Smart Eye will acquire Affectiva to gain global leadership in automotive-grade Interior Sensing AI.

FinTech: Zip Acquires BNPL Providers In Europe And UAE

May 25, 2021

Australian fintech Zip (ASX: Z1P) has bought up the entire remaining capital in a Buy-Now-Pay-Later (BNPL) entity each in Europe and the UAE. Zip will pay $140 million for the balance shares in Twisto, which operates in Central Europe, and $21 million for the shares it does not own in Spotii, a BNPL leader in UAE.

Digital Assets: Galaxy Digital To Buy BitGo For $1.2B

May 5, 2021

Galaxy Digital Holdings Ltd (TSE: GLXY), founded by Michael Novogratz has inked a deal to acquire BitGo Inc for $1.2 billion in cash and stock.

FinTech: Fresh From A £322M Funding Round, Starling May Target Another Lender

April 21, 2021

Boden said at the event that Starling now had the wherewithal to buy out another lender. Further, responding to the U.K. Government’s newly-announced fast-track “scale up” visas proposal, she said there was no need for these because home-grown talent was available in plenty within the U.K.