Valley National to buy Bluevine for $340M — SkimNews
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- Valley National Bancorp agreed to acquire New Jersey-based Bluevine for $340M, with Bluevine providing digital banking and payments services to roughly 175,000 small businesses across the US.
- Valley National said the deal will deliver a digital small business platform while accelerating its broader technology and AI strategy.
Why it matters: Valley National is paying $340M to instantly onboard a 175,000-customer digital SMB platform, skipping the years it would take to build one in-house and fast-forwarding the bank's stated AI and technology ambitions in one transaction.
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