Is Ant Financial hitching its global expansion to an antiquated payments wagon that is being undermined by a wide range of remittance startups? That appears to be case for Ant’s proposed $880 million acquisition of 72-year-old MoneyGram, which was announced today. Ant Financial is the financial service spin-off from Chinese e-commerce giantRead More
Post Tagged with: "acquisitions"
You certainly can’t accuse MasterCard of ignoring FinTech innovators. In addition to running hackathons with startups all over the globe — the next one is in Mexico City this weekend — MasterCard is acquiring companies left and right. CEO Ajay Banga described what the company is looking for in the M&A spaceRead More
MicroStrategy, the industry technology provider, is now sitting on close to $500 million of cash. The company disclosed the cash hoard in its earnings release yesterday. Company officials said the cash will be used when/if MicroStrategy stock [ticker: MSTR] becomes undervalued. MSTR has climbed about 13% in value so far thisRead More
WASHINGTON, DC–ProfitStars, which has confederated a slate of acquisitions into a roster of payments, risk management and security tools and services for banks, plans to continue to grow through acquisitions, David Foss, the company’s president, told Bank Innovation Wednesday. “We haven’t done one in two years,” Foss said of M&ARead More
Chances are that ATM you just tapped at the local convenience store for $100 was owned by Cardtronics USA Inc. The Houston-based retail ATM operator and owner, a subsidiary of Cardtronics Inc., has massively increased its ATM fleet by acquiring all assets of ATM Networks Inc. ATM Network provides machinesRead More
MoneyDesktop Inc, a PFM provider that caters to credit unions and regional banks, has acquired MoneyReef, a mobile PFM provider. Terms of the transaction weren’t disclosed. The purchase lets the Provo, Utah-based company grow out its mobile initiatives. “Increasing our clients’ loan volume has always been our top priority andRead More