Mergers & Acquisitions

Thomson Reuters to Acquire Tax Startup SurePrep

Thomson Reuters to Acquire Tax Startup SurePrep
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Mergers & Acquisitions, Thomson Reuters
  • Thomson Reuters agreed to acquire tax automation software company SurePrep for $500 million in an all-cash deal.
  • “The acquisition will support our strategy to empower tax and accounting professionals with the very best technology to simplify workflows, drive insights, and improve efficiency,” said Thomson Reuters President of Tax and Accounting Professionals Elizabeth Beastrom.
  • The deal is expected to close in the first quarter of next year.

Business information services firm Thomson Reuters recently announced it is acquiring tax automation software company SurePrep in a $500 million all-cash deal. The transaction is expected to close in the first quarter of next year.

Thomson Reuters offers four tax and accounting solutions: Checkpoint, a suite of online research and information; ONESOURCE, tax compliance technology; CS Professional Suite, integrated tax and accounting software; and Onvio, cloud-based software to manage projects, billing, and more. Purchasing California-based SurePrep will enable Thomson Reuters to accelerate its investment in advancing the automation and customer experience of its tax tools.

The two companies first partnered in April of this year to offer solutions for tax and accounting professionals. Once the two companies are combined, Thomson Reuters will bring its client base of tax and accounting professionals a suite of complementary solutions.

“Thomson Reuters sees significant value and opportunities in SurePrep,” said Thomson Reuters President of Tax and Accounting Professionals Elizabeth Beastrom. “The acquisition will support our strategy to empower tax and accounting professionals with the very best technology to simplify workflows, drive insights, and improve efficiency.”

SurePrep was founded in 2002 and has since grown to draw more than 23,000 tax professionals to its client base. The company leverages AI to help accounting firms increase productivity by collecting, processing, and extracting data from client documents. SurePrep then enters that data into firms’ tax compliance software. The company is expected to generate approximately $60 million in revenue this year and grow more than 20% each year for the next few years.

Photo by Nataliya Vaitkevich

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Q3 M&A Highlights: Deal Volume Down, Number Trending Up

Q3 M&A Highlights: Deal Volume Down, Number Trending Up
By Julie Muhn (@julieschicktanz) Posted on
Categories: Mergers & Acquisitions

2022 is marking the beginning of an economic downturn. Consumers are feeling the pain associated with high inflation, corporations are seeing decreased stock performance, and startups are experiencing lower funding amounts, lower valuations, and lower M&A numbers.

We recently reviewed FT Partners’ Q3 Quarterly Fintech Insights Report to take a look at how M&A activity in the third quarter of 2022 is tracking when compared to years past.

The volume of fintech merger and acquisition activity in the first three quarters of 2022 has so far totaled $116 billion. This is down significantly when compared to the volume the sector saw last year, which totaled $349 billion. In fact, the 2022 year-to-date amount is the lowest M&A volume since 2017, when M&A volumes totaled $90.5 billion.

When it comes to the number of deals, FT Partners found that there have been 998 fintech M&A deals so far this year. This is down when compared to last year’s total of 1,486. However, the deal number is already higher than those in any of the past 10 years. In fact, 2020’s total deal number is only 969.

Below is a list of Q3’s fintech M&A activity:

July

August

September

Photo by Sora Shimazaki

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Bluefin Payment Systems Acquires TECS Payment Systems

Bluefin Payment Systems Acquires TECS Payment Systems
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Alumni profile, Bluefin, Bluefin Payment Systems, Mergers & Acquisitions

Payment and data security company Bluefin Payment Systems announced it will acquire TECS Payment Systems, an omnichannel payment solutions provider.

Once the deal is finalized, Bluefin and TECS will serve a combined 34,000 merchants and close to 300 global partners in 55 countries. And for both Atlanta, Georgia-based Bluefin and Austria-based TECS, the acquisition will expand their geographical footprint.

“We are delighted to welcome TECS’ employees, customers and partners to Bluefin,” said Bluefin CEO John M. Perry. “This combination brings together two companies that focus relentlessly on meeting merchant needs for next-generation payment processing and management as well as the secure exchange of PHI and PII data with PCI-validated encryption and tokenization.”

Bluefin will leverage the purchase to offer its customers omnichannel payments and smartPOS capabilities, which will be integrated into the company’s existing payments and data security suite. TECS clients will benefit from added data security solutions, as well as additional resources for its TECS product and solution suite.

Founded in 2007, Bluefin offers encrypted and tokenized payments for point-of-sale transactions. Additionally, the company’s data security platform, ShieldConex, tokenizes payments, Personally Identifiable Information (PII), and Protected Health Information (PHI) entered online. Last month, the company appointed a new CRO to fuel its growth. And, earlier this fall, Bluefin partnered with commercial hardware manufacturer Sunmi.

Photo by Kelly Sikkema on Unsplash

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InComm Acquires Australian Gift Card Innovator The Card Network

InComm Acquires Australian Gift Card Innovator The Card Network
By David Penn Posted on
Categories: Alumni News, Daily news, InComm, Mergers & Acquisitions
  • Incomm Payments acquired Australian gift card provider The Card Network (TCN). Terms of the deal were not disclosed.
  • The Card Network, founded in 2019, offers a wide range of multi-brand gift cards that aggregate popular consumer brands on a single card.
  • Celebrating its 30th anniversary this year, Incomm Payments made its Finovate debut in 2011 at FinovateFall in New York.

International paytech InComm Payments has acquired Australia-based gift card provider The Card Network (TCN). The acquisition will help InComm create and offer personalized gift card solutions, as well as support the growth of its brand and retail partners. Terms of the transaction were not disclosed.

Available in-store at leading retailers in Australia as well as online, TCN’s multi-brand gift cards aggregate consumer brands onto a single card, giving card recipients greater choice and flexibility. Examples of TCN’s multi-brand gift card products are the company’s The Active Card, which includes athletic and recreational brands such as Nike, Adidas, and New Balance; The Shop
Card, which features retail brands like Calvin Klein, H&M, and peteralexander; and The Baby Card, which aggregates brands like Toyworld, Kidstuff, and BabyBunting.

“TCN is a pioneer of the multi-brand gift card category with a proven record of delivering reliable products to both the gift giver and the recipient,” InComm SVP of Financial Services and Asia-Pacific Adam Brault said. “We could not be more excited to welcome TCN’s expertise and creativity to our global team.”

Founded in 2019 by Nick Sims and Richard Hewitt, TCN also provides Australian companies with gift solutions for loyalty and rewards programs, as well as B2B gifting opportunities. This week, the company announced the availability of new special edition gift cards “for the MATE that always has your back, for the STAR in your workplace, for the CHAMP that’s always up for a yarn, for the CUTIE that makes you smile, or the BESTIE you can’d do life without.” Unveiled for the winter holiday gift giving season, the new cards enable recipients to choose from more than 30 retailers on a single card. The new offering is available courtesy of a partnership with Coles Group Supermarkets, where the special edition cards can be purchased.

Headquartered in Atlanta, Georgia, InComm has been a Finovate alum since its first appearance on the Finovate stage in 2011. In the years since, the company has grown into an international payments technology provider with more than 525,000 points of retail and online distribution, and a presence in more than 30 countries. InComm has been active in both Australia and New Zealand since 2010, helping bring international brands to the region’s gift card market. Brooks Smith is CEO.

Photo by Karen Laårk Boshoff

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BNP Paribas to Acquire Currency Management Automation Company Kantox

BNP Paribas to Acquire Currency Management Automation Company Kantox
By David Penn Posted on
Categories: Alumni News, Kantox, Mergers & Acquisitions
  • Currency management automation innovator Kantox has agreed to be acquired by BNP Paribas.
  • BNP Paribas will pay $133 million (€120 million) for the London-based company, which made its Finovate debut in 2013 at FinovateEurope.
  • BNP Paribas said the acquisition represents its commitment to building, long-lasting relationships with fintechs.

London-based, currency management automation company Kantox has agreed to be acquired by BNP Paribas for $133 million (€120 million).

The company, which made its Finovate debut in 2011, said that the acquisition will help make its technology available to an even wider range of corporate customers worldwide. The deal is the latest evolution of a relationship between Kantox and BNP Paribas that extends back more than three years.

“We have been serving clients together since 2019 when our technology partnership started,” Kantox CEO and co-founder Philippe Gelis said. “During those three years, we spent a lot of time together in the field, getting the opportunity to understand that together we were stronger and able to bring more value to clients.” Gelis called the union “the best of both worlds, the leading software company in the currency management automation category and the leading bank in Europe.”

Kantox offers a single, API-driven, plug-and-play solution that helps companies optimize their FX workflow. Kantox’s technology gives businesses the ability to automate their currency risk management, build better hedging strategies, and lower costs. With its Currency Management Automation, Kantox enables corporate treasurers to deal effectively with challenges ranging from an over-reliance on manual processes to a fragmented FX workflow due to the absence of end-to-end solutions.

Kantox’s technology will be put to work for the Global Markets business of BNP Paribas’ CIB division, and the business centers of the Commercial, Personal, and Banking Services (CPBS) division. Both small businesses and large corporates will be the target markets for Kantox’s currency automation risk management offering.

Among the premier banks in the European Union, BNP Paribas is active in 65 countries and has almost 190,000 employees. The company’s Chief Operating Officer, Head of BNP Paribas CIB, Yann Gérardin called the acquisition another example of the institution’s readiness to “establish long-term partnerships with fintechs in ever-increasing range of areas.”

Kantox made its Finovate debut in 2013 at FinovateEurope. Within ten years, the company surpassed $15 billion in total corporate foreign exchange transactions. Kantox began this year with news that it was partnering with virtual IBAN and corporate account provider Monneo. This spring, Kantox teamed up with London-based fintech Revving to launch an integrated and embedded finance and working capital solution. Kantox raised more than $43 million in funding prior to the this week’s acquisition according to Crunchbase.

Photo by Min An

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Alogent Acquires AccuSystems for Document Imaging

Alogent Acquires AccuSystems for Document Imaging
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Mergers & Acquisitions
  • Banking software firm Alogent has acquired document imaging and tracking software company AccuSystems.
  • Terms of the deal were not disclosed.
  • Adding AccuSystems’ technology will help Alogent expand to new market segments.

Banking software firm Alogent announced this week it has acquired AccuSystems, a document imaging and tracking software company. Terms of the deal were not disclosed.

The acquisition combines two players in the enterprise content and information management space and expands the automation capabilities Alogent makes available to its bank and credit union clients. This is especially important because having a centralized data and document management platform that offers data analysis is becoming table stakes for financial institutions.

“The addition of AccuSystems to our process automation suite allows us to extend workflow experiences to new market segments with complementary capabilities proven to drive higher asset growth, improved efficiencies, and profitability for banks and credit unions,” said Alogent CEO Dede Wakefield.

AccuSystems Founder and CEO Alan Wooldridge said that the acquisition will help AccuSystems become “more impactful” by providing clients with “increased access to resources and an expanded banking ecosystem of solutions.”

Headquartered in Colorado, Accusystems provides bank document imaging and management to help banks increase control, accountability, and efficiency. The company’s imaging, exception, and loan approval workflows work with more than 30 cores and loan origination solutions and are used by more than 15,000 financial institutions. The company was founded in 1996 by Mel Hatch.

Alogent’s enterprise content and information management solution helps banks replace paper-based processes and automate workflows. Alogent was founded in 1995 and its other acquisitions include Finance Genius, Finovate alum Jwaala, and Bluepoint Solutions.

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Societe Generale to Acquire Majority Stake in PayXpert

Societe Generale to Acquire Majority Stake in PayXpert
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Mergers & Acquisitions
  • Societe Generale will become a majority stakeholder in U.K.-based payment processor PayXpert.
  • The acquisition will help Societe Generale adapt to new consumer behavior stemming from the use of new technologies such as Buy Now, Pay Later.
  • In turn, PayXpert’s merchant clients will benefit from additional payments, financing, and insurance solutions.

France-based investment bank Societe Generale announced today it will become a majority stakeholder in U.K.-based payment processor PayXpert.

The acquisition aims to help Societe Generale adapt to new consumer behaviors stemming from new technologies and tools such as Buy Now, Pay Later and integrated insurance services. “Societe Generale constantly adapts its offering and innovates to address new customer journeys,” the company said in a blog post announcement.

Specifically, PayXpert’s technologies will help Societe Generale broaden its offering for retail and online merchants and continue in its quest to be a leading player in payment acceptance in Europe. As a result of the acquisition, PayXpert’s merchant clients will benefit from additional payments, financing, and insurance solutions.

“The acquisition of PayXpert would enhance our payment solutions offering by providing increasingly comprehensive and innovative services to our retail and online merchants,” said Aurore Gaspar Colson, Deputy Head of Societe Generale Retail Banking in France. “It reflects our determination to maintain an integrated approach to payments and is consistent with Societe Generale’s long-standing and innovative policy of cooperation with fintechs.”

Founded in 2008, PayXpert offers point-of-sale technologies for both online and in-person transactions, as well as solutions for subscription and recurring payments, data management, business intelligence, and more. Among the company’s clients are Uber, Santander, and Gucci. PayXpert was a finalist in the for the Best Mobile Payments Solution category in the 2020 Finovate Awards.

Photo by Ken Tomita

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New Acquisition Takes Billtrust Private For $1.7 Billion

New Acquisition Takes Billtrust Private For $1.7 Billion
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Mergers & Acquisitions
  • Private Equity Firm EQT has agreed to acquire B2B accounts receivable and payments company Billtrust.
  • The deal is expected to close in the first quarter of next year for $1.7 billion.
  • This move will take Billtrust back to a privately-held company, following its public debut on the NASDAQ in 2020 after closing a SPAC merger.

B2B accounts receivable and payments company Billtrust announced today it has agreed to be acquired by EQT Private Equity for $1.7 billion. The transaction is expected to close in the first quarter of 2023.

Once finalized, the deal will take Billtrust from the public markets. The company went public in 2020 in a SPAC merger valued at approximately $1.3 billion. Billtrust is currently listed on the NASDAQ and has a market capitalization of $1.52 billion.

“This transaction marks the beginning of an exciting new chapter for Billtrust, our customers and employees while providing shareholders an immediate and substantial cash value with a compelling premium,” said Billtrust Founder and CEO Flint Lane. “We believe B2B payments and accounts receivable continue to be ripe for massive disruption and innovation, and our partnership with EQT will provide us with greater resources and flexibility to build on our leadership position.”

Billtrust was founded in 2001 to offer a suite of solutions that simplify and automate B2B commerce through cloud-based software and payment processing solutions. In 2018, the company launched its Business Payments Network (BPN) that connects buyers, suppliers, and financial institutions to simplify and streamline electronic payment acceptance. The company also offers tools for credit risk managers, ecommerce solutions for wholesale distributors and manufacturing businesses, payments acceptance tools, and more.

For EQT, a Sweden-based private equity firm with $100 billion in assets under management, this marks its third fintech deal. Others in the firm’s fintech portfolio include SaaS cloud banking provider Mambu and payment acceptance company Mollie.

“The Billtrust platform features modern solutions, a compelling value proposition, and, like EQT, a commitment to innovation and transformation in the digital era,” said Arvindh Kumar, Partner and Co-Head of EQT’s Global Technology Sector Team. “Additionally, the Company operates at the intersection of software, fintech, and payments—sectors in which EQT has deep familiarity and a track record of success. With proprietary end-to-end solutions that generate value for all stakeholders and across economic cycles, Billtrust is poised to advance its leading offering in the underpenetrated accounts receivable automation space.”

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Get Gatsby: Social Investment Platform eToro Acquires Option Trading App for $50 Million

Get Gatsby: Social Investment Platform eToro Acquires Option Trading App for $50 Million
By David Penn Posted on
Categories: Alumni News, Daily news, eToro, Mergers & Acquisitions
  • Social investment platform eToro inked a definitive agreement to acquire stock and options trading app Gatsby for $50 million.
  • U.S.-based Gatsby offers a commission-free, stock and options trading solution geared toward Millennial and Gen Z investors and traders.
  • Making its first Finovate appearance in 2011, eToro has won Best of Show in every one of its six appearances on the Finovate stage.

Social investment platform eToro has agreed to acquire Gatsby, a U.S.-based, commission-free, stock and options trading app. The Israel-based company, which has won Best of Show awards in every one of its six appearances on the Finovate stage since 2011, will pay approximately $50 million for the trading company.

As part of the transaction, Gatsby’s co-CEOs and co-founders Jeff Myers and Ryan Belanger-Saleh – along with other senior Gatsby staffers – will join the eToro team. The acquisition of Gatsby will enable eToro to diversify its offering to investors and traders in the U.S., a factor that eToro CEO Yoni Assia called “a strategic focus” for his company.

“Through Gatsby we can provide U.S. users with access to a safe and simple way to trade options,” Assia said, “which we know are particularly attractive in challenging markets.”

Geared toward younger investors and traders, Gatsby was founded in 2018 as a way to bring commission-free options and stock trading to a demographic that has been overlooked until recently. Company co-founder Belanger-Saleh credited eToro as an inspiration for launching Gatsby, calling eToro a social investing pioneer and “the cool older sibling we’d love to hang with.” Joining the eToro team will be Gatsby’s president and chief operating officer (both co-founders), as well as Gatsby’s Chief Technology Officer, Head of Product, and others.

“We are incredibly excited to welcome the Gatsby team to the eToro family,” Assia said. “We have a shared mission of empowering investors through simple, transparent tools.”

The acquisition announcement from eToro comes less than a month after the company launched its private equity portfolio that enables individual retail investors to access private markets that would be otherwise inaccessible to them. eToro’s Private Equity Smart Portfolio gives users exposure to 14 publicly listed asset management and investment companies that manage alternative assets. These firms, including Apollo Global Management, Blackstone, and The Carlyle Group, all feature strong ROIs and get their revenues via a combination of management fees for asset allocation and performance fees based on realized profits.

“Our goal is to open the global markets so that everyone can trade and invest in a simple and transparent way,” eToro Head of Investment Portfolios Dani Brinker said. “With this portfolio we want to leverage the wave of private equity company listings and offer our users a new solution to diversify their portfolio and gain exposure to the revenues generated in private markets.”

Founded in 2007, eToro currently has more than 28 million registered users who share their investment strategies and make it easy for market newcomers to buy, hold, and sell assets ranging from stocks to cryptocurrencies.

Photo by Haley Black

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Jack Henry Acquires Payrailz for an Undisclosed Amount

Jack Henry Acquires Payrailz for an Undisclosed Amount
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Alumni profile, Jack Henry, Mergers & Acquisitions
  • Jack Henry Acquired payments-as-a-service startup Payrailz.
  • Jack Henry anticipates the acquisition will enhance its payments-as-a-service strategy and offer its 8,000 clients the ability to enable embedded finance.
  • Financial details were not disclosed.

Core banking provider Jack Henry & Associates has agreed to acquire digital payments startup Payrailz. Financial details of the acquisition, which is expected to close at the end of this month, have not been disclosed.

Jack Henry anticipates the acquisition will support banks and credit unions by enhancing its payments-as-a-service (PaaS) strategy and offering its 8,000 clients the ability to enable embedded finance. Jack Henry currently has a virtual payments hub that consolidates money transfer tools which support numerous payment channels and types. Payrailz’s technology complements this hub by adding consumer and commercial bill pay; real-time person-to-person (P2P), account-to-account (A2A), business-to-customer (B2C) payments; and more.

“We are excited about the opportunity to add these next-generation solutions to our payments capabilities,” said Jack Henry President and COO Greg Adelson. “Our company is engaged in technology modernization that is supporting banks and credit unions with innovative solutions that enable them to respond to business opportunities and challenges, and to improve the financial health of their accountholders. Considering the importance of modern digital and payments strategies to financial institutions, we plan to acquire Payrailz as a strategic addition to our payments ecosystem, which enables our clients to simplify the complexity of payments, modernize their existing payment channels, and remain at the center of their account holders’ payment experiences.”

Payrailz consumer and commercial digital payment solutions help banks compete with third party players with its PaaS offering. The company was founded in 2016 and had since raised $24 million. Earlier this year, Payrailz integrated with Q2’s digital banking platform to enable Q2 clients to provide P2P payment services.

Founded in 1976, Jack Henry most recently presented at FinovateFall 2015 where the company showcased the Banno solution after acquiring Banno in 2014. Among Jack Henry’s other fintech acquisitions are Geezeo, iPay Technologies, and Stackfolio.

Photo by Albin Berlin

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Avalara Acquired by Vista Equity Partners for $8.4 Billion

Avalara Acquired by Vista Equity Partners for $8.4 Billion
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Avalara, Daily news, Mergers & Acquisitions
  • Tax compliance firm Avalara has agreed to be acquired by Vista Equity Partners for $8.4 billion.
  • Avalara has more than 30,000 customers in 95 countries.
  • The transaction will take Avalara private, removing it from the New York Stock Exchange.

Avalara is starting the week with a big move. The tax compliance firm has agreed to be acquired by global investment firm Vista Equity Partners for $8.4 billion. Vista Equity Partners is acquiring Avalara at $93.50 per share, which represents a 27% premium of Avalara’s closing share price on July 6, 2022.

Founded in 2004, Avalara helps its more than 30,000 customers in 95 countries comply with tax regulations. The Washington-based company offers compliance solutions for various transaction taxes, including sales and use, VAT, GST, excise, communications, lodging, and other indirect tax types. In addition to tax compliance, Avalara also helps companies secure business licenses and provides sales tax data analysis that offer business insights. Among the company’s clients are Zillow, Pinterest, and Roku.

“Avalara is a mission-critical platform serving customers in a variety of end-markets, including retail, manufacturing, hospitality, and software,” said Vista Equity Partners Managing Director Adrian Alonso. “Avalara’s solutions, its commitment to product innovation, and its network of extensive partner integrations, resellers, and accountants make it a true leader in the space.”

Once complete, the transaction will take Avalara private, removing it from the New York Stock Exchange. Prior to going public in 2018, Avalara had raised $341 million. Scott McFarlane
is co-founder and CEO.

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Thoma Bravo Scoops Up Ping Identity for $2.8 Billion

Thoma Bravo Scoops Up Ping Identity for $2.8 Billion
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Mergers & Acquisitions, Ping Identity
  • Thoma Bravo is acquiring Ping Identity in an all-cash deal for $2.8 billion.
  • The acquisition will take publicly held Ping Identity into the private markets.
  • Thoma Bravo’s other recent fintech acquisitions include Bottomline Technologies, Digital Insight, and Ellie Mae.

Cloud-based identity software provider Ping Identity has agreed to be acquired by private equity firm Thoma Bravo. The all-cash deal is expected to close in the fourth quarter of this year for $2.8 billion.

“We are pleased to partner with Thoma Bravo, which has a strong track record of investing in high-growth cloud software security businesses and supporting companies with initiatives to turbocharge innovation and open new markets,” said Ping Identity CEO Andre Durand.

Ping Identity was founded in 2002 and has since made seven acquisitions of its own, including passwordless identity verification company Singular Key, bot prevention and fraud intelligence firm SecuredTouch, intelligent authorization company Symphonic, blockchain-based identity startup ShoCard, AI-powered security company Elastic Beam, customer identity solution UnboundID, and Accells Technologies.

Ping Identity has leveraged this acquired expertise, in addition to its own in-house knowledge, to help enterprises remove passwords, prevent fraud, support Zero Trust. The company offers a no-code, drag-and-drop user interface to make its seemingly intimidating offerings more approachable for non-technical staff.

After the deal closes, Ping Identity, which is listed on the New York Stock Exchange with a market capitalization of $2.38 billion, will transition to a privately held organization. Before the company’s debut onto the public markets, Ping Identity was majority-owned by Vista Equity, which now owns 9.7% of shares in the Denver, Colorado-based company.

“Ping Identity is a leader in intelligent identity solutions for the enterprise and is well-positioned to capitalize on the significant opportunities in the $50 billion Enterprise Identity security solutions area,” said Thoma Bravo Partner Chip Virnig. “Our shared commitment to growth and innovation, combined with Thoma Bravo’s significant security software investing and operational expertise, will enable Ping Identity to accelerate its cloud transformation and delivery of industry leading identity security experiences for the customers, employees and partners of large enterprises worldwide.”

Today’s purchase marks Thoma Bravo’s 91st acquisition. The firm takes a buy-and-build approach in which it acquires similar companies and consolidates them to create synergies and develop companies with greater scale, scope, and broader service offerings. Among the Illinois-based company’s most recent fintech purchases are Bottomline Technologies, Digital Insight, and Ellie Mae.

Photo by Fábio Lucas

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