Why Shares of SoFi Are Falling Today

Shares of SoFi Technologies (NASDAQ: SOFI) had slipped nearly 10% as of 2:03 p.m. ET today after the company announced that it plans to acquire the core processing company Technisys.

SoFi plans to purchase Technisys for $1.1 billion in an all-stock transaction. Technisys develops core banking systems, which help banks carry out their daily operations, whether that is processing a deposit or loan transaction.

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Source Fool.com