American Express to Acquire Fintech Company Kabbage; Deal Doesn't Include Company's Loan Book

Confirming speculation in the market and in the media, American Express (NYSE: AXP) announced Monday it is acquiring Kabbage, a privately held fintech company that specializes in small-business lending.

The price of the transaction was not disclosed by American Express in its announcement. Previous speculation about the deal priced it as high as $850 million.

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Source Fool.com