In Other News: ABACUS (AXP); PAYSAFE (Platform); NETS (IPO); and ACI (EBH).
ABACUS – Abacus has integrated with American Express to pull in a direct feed of corporate card transaction data into the Abacus platform. When this data is programmatically imported into Abacus, finance teams will be able to leverage more accurate and higher quality data to help automate month-end reconciliation. This partnership comes on the heels of Abacus announcing integrations with Slack and NetSuite, underscoring the company’s strategy to obtain the best quality and most robust financial data to power its smart expense prediction system.
PAYSAFE – Paysafe is expanding its product capabilities by acquiring Income Access Group, a pioneering affiliate technology business for a cash consideration of CAD$40m (approximately US$30m1). Income Access is a market-leading brand providing innovative affiliate technology for businesses to manage their performance marketing programmes. In addition, more than 25,000 affiliates use the company’s multi-channel software for their marketing campaigns.
NETS – Nets Holding, a Nordic payments firm owned by equity funds Advent International Corporation and Bain Capital Private Equity, as well as Danish pension fund ATP, is preparing for an initial public offering. The sale is expected to generate proceeds of about 5.5 billion kroner ($824 million) through the issue of new shares, it said in a statement on Thursday. Existing shareholders also plan to sell down their holdings.
ACI – ACI Worldwide announced that Erste Bank Hungary (EBH) will utilize ACI’s market-leading UP Ret