After contemplating acquisition offers, Q2 Holdings is holding off on selling due to bids coming in lower than expected, according to Seeking Alpha, Barrons, and other reports.
Q2 is a FinTech firm focused on offering digital banking and lending solutions to banks, credit unions, and alternative finance firms, according to its website.
The company provides comprehensive end-to-end solution sets. Headquartered in Austin, Texas and founded in 2004 by Hank Seale, Q2 is traded on the New York Stock Exchange (NYSE) under the ticker QTWO.
Share prices started climbing last month when news first broke that the company was entertaining sale offers, per reports. Shares closed Friday (June 3) at roughly $53. As a comparison, on May 3 the stock was trading at close to $51, whereas last year at this time shares traded at almost $96.
See also: Payments Firm Deluxe Integrates with Q2 Holdings
Deluxe partnered with Q2 Holdings in February. The integration gave Deluxe the ability to offer human resources and payroll solutions within Q2’s Partner Marketplace Program and further enabled “financial institutions to seamlessly provide these solutions to their clients while generating recurring revenue and increasing customer retention,” PYMNTS reported at the time.
Michael Reed, president of payments for Deluxe, said that Deluxe HR & Payroll Solutions offers small businesses a combined tool to make human resource functions and payroll easier.
Read more: How ‘Super FinTechs’ Enable Go Anywhere Banking Services
Akash Sinha, co-founder and CEO at Cashfree Payments, told PYMNTS’ Karen Webster that that in-demand banking services needed to morph into Banking-as-a-Service (BaaS).
“Tomorrow, I think these customers would want banking services from any company they trust,” Sinha said, pointing to the way all companies are taking shape as finance firms and have trusting customers already on deck.
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