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Valley National to acquire Bluevine for $340 million
Original: Valley National to acquire Bluevine for $340M
Valley National Bancorp has agreed to acquire Bluevine, a small-business banking platform, in a deal valued at $340 million. The acquisition gives the New Jersey-based bank a larger footprint in digital banking services for small businesses, combining a traditional regional lender with a fintech-focused banking provider. Terms beyond the headline price have not been detailed in initial reports.
Why now: A regional bank paying $340 million for a fintech small-business banking platform is notable news for banking and fintech observers.
Valley National BancorpBluevine
Evidence
- Valley National to acquire Bluevine for $340M · Long Island Business News
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