As the year comes swiftly to an end, FinTech Futures takes a look back at some of the biggest mergers and acquisitions (M&A) to grace the world fintech stage during 2024.Capital One acquires Discover Financial Services in $35bn dealCapital One to buy Discover in £35bn dealIn February, US financial services giant Capital One announced the acquisition of Discover Financial Services in an all-stock transaction valued at $35.3 billion.The Virginia-based firm plans to leverage Discover’s customer base, technology, and data ecosystem to “deliver enhanced value to a franchise of over 100 million customers” and help boost merchant sales, with a 16% return on investment expected by 2027.“Our acquisition of Discover is a singular opportunity to bring together two very successful companies with complementary capabilities and franchises, and to build a payments network that can compete with the largest payments networks and payments companies,” explains Capital One’s founder, chairman and CEO, Richard Fairbank.Founded in 1986, Discover Financial Services is a digital banking and payment services company and one of the largest card issuers in the US.Read more hereWebull set for Nasdaq public listing via $7.3bn SPAC mergerDigital investment platform Webull went public in the US after a merger with special purpose acquisition company (SPAC) SK Growth Opportunities in a deal valuing the combined company at $7.3 billion.The combined company “will retain its name as ‘Webull Corporation’ and its ordinary shares are expected to be listed on Nasdaq under a new ticker symbol”, according to a statement by Webull.Anthony Denier, group president of Webull Corporation, said he expects the merger to “enable us to further expand our holistic approach to retail investors”.Richard Chin, CEO and director of SK Growth Opportunities, said he is confident that “capitalising on our experience and network globally will bolster Webull’s growth in existing and new markets as a public company”.Read more hereNuvei snapped up by Advent International in $6.3bn dealNuvei sold to Advent InternationalBack in April, US private equity firm Advent International signed a definitive agreement to acquire Canadian payments processor Nuvei in a deal worth $6.3 billion.Advent offered Nuvei’s shareholders $34 per share – a 56% premium on the company’s 15 March share price of $21.76 – through an all-cash transaction.The deal also included the delisting of the paytech from the Toronto Stock Exchange (TSE) and Nasdaq, where it has been listed since September 2020 and October 2021, respectively.Nuvei CEO and chairman, Philip Fayer, retained his leadership role in the resulting private company.Read more hereNationwide Building Society set for £2.9bn takeover of Virgin MoneyNationwide, the UK’s largest building society, agreed terms with retail bank Virgin Money over a potential £2.9 billion acquisition deal in March.Nationwide said it expects to integrate Vir
Sab. Gen 18th, 2025
