Technology Roundup – Visa to buy fintech Plaid, Apple not cooperating with FBI

Published on: January 13, 2020
Author: Amy Liu

Visa closes in on a deal to buy fintech Plaid – WSJ

Visa (NYSE:V) is close to a deal to buy privately held fintech Plaid, the Wall Street Journal reports, citing people familiar with the matter.

The acquisition would give Visa access to the market where trillions of dollars are sent by wire transfer or bank account globally each year and would expand the ways the credit card giant helps firms send and receive money through bank accounts.

The agreement could be announced this week, though it’s still possible that the talks could break down, the people said.

The WSJ couldn’t learn the terms of the deal; Plaid, though, was valued at ~$2.65B in a 2018 funding round.

Apple not cooperating with FBI – AG Barr

U.S. Attorney General William Barr says Apple (NASDAQ:AAPL) hasn’t helped the FBI unlock the iPhone used by the alleged shooter at a Navy base in Florida.

Barr, during a press conference: “We call on Apple and other technology companies to help us find a solution so that we can better protect the lives of Americans and prevent future attacks.”

Barr says that the situation “perfectly illustrates why it is critical that investigators be able to get access to digital evidence once they have obtained a court order based on probable cause.”

Last week, Apple said that it gave the FBI “all of the data in our possession” and would “continue to support them with the data we have available.”

Lowe’s expands Google Cloud ties

Lowe’s (LOW +0.2%) and Google Cloud (GOOG +0.4%)(GOOGL +0.4%) will work to modernize the retailer’s e-commerce, merchandising, supply chain management, and pricing systems to provide a “channel-less” customer experience.

The companies first partnered in 2018 when Lowe’s began to transition its legacy e-commerce system to Google Cloud.

Related: Last week, Wayfair announced making Google Cloud the center of its new hybrid cloud approach.

Goldman Sachs funds to buy retail software firm from Apax funds

Funds affiliated with Goldman Sachs’s (GS +1.4%) Merchant Banking division agree to acquire Aptos, a provider of retail software, from funds advised by Apax Partners.

Terms of the deal weren’t disclosed.

The Apax funds backed Aptos CEO Noel Goggin to spin out the business from portfolio company, Epicor, in 2015.

Since then, Aptos more than doubled its customer base.

Samsung acquires TeleWorld for 5G infrastructure

Samsung (OTC:SSNNF,OTC:SSNLF) completes its acquisition of TeleWorld Solutions.

The Virginia-based telecom provides wireless networking and consulting services, including 5G solutions.

TWS will be a wholly-owned subsidiary of Samsung but can continue offering its services to existing clients.

Samsung statement: “The acquisition of TWS will enable us to meet mobile carriers’ growing needs for improving their 4G and 5G networks, and eventually create new opportunities to enhance our service capabilities to our customers.”