FinTech Brex on Tuesday (Aug. 17) announced it has acquired Israel-based commerce API company Weav for $50 million as part of a plan to expand its global footprint by bringing an innovation hub to Israel. “After a successful partnership, we are thrilled to make Weav...
Minnwest Bank and Roundbank recently announced that the financial institutions (FIs) have signed an agreement to merge. The transaction is expected to complete by year’s end, pending regulatory approval. Financial details of the deal were not disclosed. Roundbank, which was originally chartered in 1881, was...
Online entertainment firm Roblox is working to close an acquisition deal for online gaming community connection startup Guilded, according to a press release on Monday (Aug. 16). Terms were not released. “The Guilded team has a clear passion for empowering communities,” said David Baszucki, CEO of Roblox....
Specialized payments platform Paysafe on Monday (Aug. 16) signed a definitive agreement to acquire Latin American digital payment platform SafetyPay for $441 million in cash. Founded in 2007, SafetyPay enables eCommerce transactions at over 180,000 cash collection points through open banking and eCash offerings primarily...
Merger and acquisition (M&A) activity is at an all-time high, with the global value sitting at a record-shattering $3.6 trillion, Reuters reported. The numbers have been steadily building on the beginning of the year’s record-breaking streak of deals, according to Reuters. Low interest rates and...
Adidas is offloading Reebok into Authentic Brands Group’s (ABG) burgeoning portfolio of brands as the German sportswear giant seeks to strengthen its own position in a direct-to-consumer (D2C)-led strategy. The $2.5 billion transaction is expected to close in the first quarter of 2022. The Reebok...
The Baupost Group hedge fund is getting into the meal delivery business. As Bloomberg News reported on Thursday (Aug. 12), the fund — run by value investor Seth Klarman — has purchased a 3.5 percent stake in Just Eat Takeaway.com, a Dutch food delivery service...
U.S. Bank has agreed to purchase FinTech company Bento Technologies, according to a Thursday (Aug. 12) company announcement. The acquisition is aimed at broadening the bank’s digital capabilities for small business customers. Known as Bento for Business, the 8-year-old Chicago- and San Francisco-based company provides...
Western Union Business Solutions (WUBS) is slated to acquired by Goldfinch Partners and The Baupost Group in a $910 million deal that will rename the business Convera, according to a press release on Thursday (Aug. 12). Under the new standalone entity, former Amazon Pay executive...
