Post Tagged with: "M&A"

PayPal Swears Off Buying Another Bank [VIDEO]

PayPal Swears Off Buying Another Bank [VIDEO]

by October 27, 2016 at 9:33 am 0 comments

PayPal will not buy another bank, and specifically not one in the United States. So declared Dan Schulman, CEO of the payments company, this week. This despite the fact that PayPal Inc. has about $6 billion of cash on its balance sheet. “We are a bank in Europe; we are largeRead More

Innovation Helps EverBank Score a Higher Acquisition Multiple

Innovation Helps EverBank Score a Higher Acquisition Multiple

by August 8, 2016 at 2:56 pm 0 comments

EverBank Financial Corp. today scored a valuation multiple of nearly 22x earnings in its sale to TIAA. No wonder the EverBank executive team said it was “excited” about the deal. That multiple (21.67x to be exact) will translate into a sale price of about $2.5 billion, when the deal finally closes, mostRead More

Time Running Out on FinTech Acquisition Corp.

Time Running Out on FinTech Acquisition Corp.

by February 19, 2016 at 9:38 am 2 comments

The clock is ticking on FinTech Acquisition Corp. FinTech Acquisition Corp, believed to be the only “blank check” company in the fintech sector today, has by rule until Aug. 19 to consummate an acquisition with its $100 million, or face dissolution. A “blank check” company’s sole purpose is to make an acquisitionRead More

Source: TechCrunch

Affirm’s Max Levchin Just Called the Fintech Bubble

by December 17, 2015 at 11:43 am 0 comments

Affirm, the small business lending startup headed by Max Levchin, has raised $320 million to date. Apparently, even Levchin, a PayPal founder, views that as, well, a lot. Yesterday, in a wide-ranging interview with Inc. magazine, Levchin called out fintech for being “oversaturated” and “overinvested.” In other words, we’ve gotRead More

Q2 Buys Social Money for $10.6M as Fintech M&A Boils

Q2 Buys Social Money for $10.6M as Fintech M&A Boils

by December 3, 2015 at 12:28 pm 0 comments

Q2 is buying up Silicon Prairie. Q2 Holdings, the parent of bank software provider Q2, announced Tuesday it had acquired Des Moines, Iowa-based Social Money, best known for its SmartyPig savings product. In July, Q2 acquired Lincoln, Neb.-based Centrix, a maker of fraud detection technologies, for about $20 million. InRead More

SunGard Acquisition Makes FIS the Beast of Fintech

SunGard Acquisition Makes FIS the Beast of Fintech

by August 12, 2015 at 10:43 am 3 comments

Meet the new King of the Fintech Hill: FIS. Today, FIS effectively became the largest financial services technology company in the world by revenue, as it agreed to acquire SunGard for $9.1 billion. Just consider these stats for the new FIS: $9.2 billion of pro forma revenue (FY 2014); 90%Read More

Did Data Undervaluation Drive Yodlee’s Sale to Envestnet?

Did Data Undervaluation Drive Yodlee’s Sale to Envestnet?

by August 10, 2015 at 5:41 pm 0 comments

Today, Envestnet Inc. agreed to purchase Yodlee, a public company with a languishing stock price, for an enterprise value of $590 million. In part, this transaction appears to be taking place because of the hazy value of data. An interesting blog post on WSJ.com post Friday asked whether the value ofRead More

MasterCard Beefs Up Its Fintech Acquisitions

MasterCard Beefs Up Its Fintech Acquisitions

by July 29, 2015 at 6:15 pm 8 comments

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 Is Sitting on $500 Million

MicroStrategy Is Sitting on $500 Million

by July 28, 2015 at 12:06 pm 0 comments

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

Is Xoom Worth $890 Million?

Is Xoom Worth $890 Million?

by July 2, 2015 at 11:51 am 2 comments

Did PayPay pay too much for Xoom yesterday? The purchase price of $890 million put a 25% premium on Xoom’s stock price, which has been on a torrid climb since April. That’s $890 million for a company that lost money last quarter. So why would PayPal give Xoom shareholders soRead More