Exits & Deep Reads

Chinese trade finance provider Oabay goes public (TWIF 6/16)

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Please find another week of fintech exits and deep reads below. (👍👎 Have feedback for us? Let us know!)

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☯️ Exits

💻 IPOs & SPACs

Special purpose acquisition company Bayview Acquisition will merge with Oabay, a provider of credit digital transformation solutions based in China, to take it public at a $393 million valuation.

🤝 M&A - Fintech

Market intelligence platform AlphaSense, as discussed in yesterday's newsletter, agreed to acquire expert research platform Tegus for $930 million in cash and stock.
Texting platform Yext will acquire Hearsay Systems, a digital client engagement provider for financial services, for $125 million and an additional $95 million in earnout.
Bakkt, the crypto marketplace launched by the parent company of the NYSE, is exploring a potential sale.
Danish accounting software provider Ageras is looking to make one or two major acquisitions this year.

🏦 M&A - Bank and FinServ

National Bank of Canada will acquire Canadian Western Bank for shares valued at about CAD$5 billion.
UAE investment firm Magellan Group will acquire lender Danish Ship Finance for over €700 million.
Consulting group Mercer will acquire pension manager Cardano, which oversees more £50 billion in pension assets.
Private investment manager Ardian acquired French wealth management provider Orion Group.