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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| American Express Company | NYSE:AXP | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.21 | -0.09% | 238.75 | 240.55 | 237.97 | 238.27 | 4,429,099 | 01:00:00 |
From Apr 2019 to Apr 2024
By Colin Kellaher
American Express Co. on Monday said it agreed to buy substantially all of online small-business lending platform Kabbage Inc. for an undisclosed amount.
The New York financial-services company said the deal expands its digital cash-flow-management offerings for small businesses.
Barron's earlier this month reported that Kabbage was weighing a sale, and that a person familiar with the matter said the fintech startup could sell for $750 million to $1 billion.
American Express said it will acquire Kabbage's team and its suite of financial-technology products, data platform and IP built for small businesses. The Atlanta firm's pre-existing loan portfolio isn't included in the agreement.
American Express said it expects to complete the acquisition later this year.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 17, 2020 12:10 ET (16:10 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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