NEW YORK — October 6, 2020 — Berkery Noyes, an independent mid-market investment bank, today released its third quarter 2020 mergers and acquisitions trend report for the Financial Technology and Information Industry.
The report analyzes M&A activity during the three-month period and compares it with data for the previous six quarters. This market includes information and technology companies in Capital Markets, Payments, Banking, Insurance, and other related financial services.
Total volume in the third quarter remained about constant over the second quarter. Overall value more than quadrupled during this timeframe, from $5.6 billion to $24 billion.
As for selected areas covered in the report, the number of deals in the Payments segment gained 17 percent on a quarterly basis. Notable third quarter Payments transactions included FinTech Acquisition Corp. III’s acquisition of Paya, a integrated payments and commerce solution provider, for $1.3 billion; and Corsair Capital LLC’s announced acquisition of MSTS, a global B2B payment and credit solutions provider, for $300 million.
Meanwhile, there was a nine percent increase in the Banking segment. Notable Banking transactions in the third quarter included Intercontinental Exchange’s announced acquisition of Ellie Mae, a cloud-based platform provider for the mortgage finance industry, for $11 billion; and Black Knight’s announced acquisition of Optimal Blue, a digital mortgage marketplace that connects lenders, investors, and providers with secondary marketing solutions, for $1.8 billion.
A copy of the FINANCIAL TECHNOLOGY AND INFORMATION INDUSTRY M&A REPORT FOR THIRD QUARTER 2020 is available at the Berkery Noyes website.