In a major financial move, UBS Group has announced the sale of its 50% stake in Swisscard to American Express, making the U.S. company the sole owner of the Swiss-based credit card provider. This strategic divestment follows UBS’s acquisition of Credit Suisse in 2023 for $3.2 billion, during which it inherited Swisscard’s stake. UBS’s decision […]
In a stunning shift, Warren Buffett’s legendary Berkshire Hathaway continues to unload shares of Bank of America, raising eyebrows across the financial world. The prolonged sale, which has stretched over nine consecutive trading sessions, has seen the investment giant dramatically reduce its holdings in one of its largest financial bets. Despite the dramatic headlines, Berkshire […]
American Express (NYSE: AXP) has reached an agreement to acquire Tock, a leading technology provider for reservation, table, and event management, from Squarespace (NYSE: SQSP) for $400 million. This acquisition underscores American Express’s commitment to expanding its footprint in the hospitality industry. Matthew Tucker, Head of Tock, expressed confidence in the transaction, stating, “American Express […]
Accel-KKR, a technology-focused private equity firm, has successfully completed the carveout acquisition of Accertify from American Express (NYSE: AXP). This strategic acquisition positions Accertify to operate as a standalone private entity, focusing on accelerating growth and innovation in the global fraud protection technology market. Enhancing Fraud Prevention and Security Services Accertify is a leading provider […]
In a significant move in the technology sector, Accel-KKR, a leading technology-focused private equity firm, has announced the acquisition of Accertify, a key player in fraud prevention and chargeback management, from American Express (NYSE: AXP). This acquisition positions Accertify, renowned for its advanced fraud prevention and payment gateway solutions, for accelerated growth and innovation. The […]
City Bank, a Bangladeshi private commercial bank, has joined forces with UK-based payments technology firm Compass Plus to launch an interoperable QR code payments solution in the Asian country. The QR code payments solution is said to bring together four major global payments networks in the form of American Express, Visa, Mastercard, and UnionPay, in […]
American Express acquisition of Kabbage : Global payments company American Express or Amex has signed a deal to acquire almost all the assets of Atlanta-based small business online lending company Kabbage. Financial terms of the fintech deal were not disclosed. Kabbage, which has been funded and backed by SoftBank Vision Fund, Thomvest Ventures, BlueRun Ventures, […]