InSight

Exit and Growth Strategies for Middle Market Businesses

Archive for the ‘Financial Services’ Category

M&A Quarterly News In The Financial Services Industry Sector

By David Sinyard | Oct 15, 2018

The report below gives a good overview of the fourth quarter M&A activity in the Financial Services Industry Sector. M&A activity for North American based target companies in the Financial Services sector for Q3 2018 included 268 closed deals, according to data published by industry data tracker FactSet.

One of the notable middle market transactions closed in August when Xome, Inc., a subsidiary of WMIH Corp, acquired the business and assets of Mortgage Solutions business of Assurant, Inc. for US$35 million in cash. Under the terms of the agreement, Xome paid US$35 million in cash and an undisclosed amount in contingent payout to the shareholders of Assurant. The acquisition would allow Xome to expand its product offerings. The transaction is expected to be accretive to the earnings of WMIH Corp in 2019.

The financial services sector has been significantly impacted by software and technology, which continues to evolve creating efficiencies and increasing profitability.

 

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M&A Quarterly News In The Financial Services Industry Sector

By David Sinyard | Aug 07, 2018

The report below presents you with a good overview of the third quarter M&A activity in the Financial Services Industry Sector. M&A activity for North American based target companies in the Financial Services sector for Q2 2018 included 206 closed deals, according to data published by industry data tracker FactSet.

One of the notable middle market transactions was announced in June when 360 Treasury Systems AG, a subsidiary of Deutsche Börse AG, acquired Gain GTX LLC from GAIN Capital Holdings, Inc. for US$100 million in cash, subject to a customary adjustment. The transaction allows Deutsche Börse AG to provide financial flexibility to enhance its investment opportunities. Following the transaction, the GTX ECN business will be integrated into Deutsche Börse’s 360T forex unit. Gain GTX LLC is located in Bedminster, New Jersey and provides foreign exchange services.

Household wealth continues to rise across North America, Western Europe and Asia, which has bolstered the financial services sector.

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M&A Quarterly News In The Financial Services Industry Sector

By David Sinyard | May 04, 2018

The report below presents you with a good overview of the second quarter M&A activity in the Financial Services Industry Sector.  M&A activity for North American based target companies in the Financial Services sector for Q1 2018 included 163 closed deals, according to data published by industry data tracker FactSet.

One of the notable transactions of the quarter was announced in January when Imperalis Holding Corp. acquired The Crypto Currency Mining Co, Inc. for US$175.3 million in stock. The acquisition would enable Imperalis Holding Corp to expand its crypto business. The Crypto Currency Mining Co. provides bitcoin mining services. Bitcoin is a peer-to-peer electronic cash system and is operated by a software that process transactions, secure the network, and keep the system synchronized.

Crypto currency trading was uneven in Q1 as prices swung heavily from month to month.

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M&A Quarterly News In The Financial Services Industry Sector

By David Sinyard | Mar 19, 2018

The report below presents you with a good overview of the first quarter M&A activity in the Financial Services Industry Sector. M&A activity for North American based target companies in the Financial Services sector for Q4 2017 included 134 closed deals, according to data published by industry data tracker FactSet.

One of the largest transactions of the quarter closed in November when Hartford Life & Accident Insurance Co, a subsidiary of Hartford Life Inc, ultimately owned by The Hartford Financial Services Group Inc, acquired the business and assets of the group life and disability operations of Aetna Inc for US$1.5 billion in cash. Funding for the deal came from existing capital resources. The acquisition accelerates Hartford Life & Accident Insurance Co’s strategies for distribution, digital capabilities and claim outcomes, and enhances its distribution footprint. The transaction is expected to be accretive to The Hartford Financial Services Group Inc’s earnings in 2018.

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