J.P. Morgan to acquire Renovite Technologies, Inc
J.P. Morgan (NYSE: JPM) announces today that it has signed an agreement to acquire Renovite Technologies, Inc. (Renovite), a leading cloud-native payments technology company.
The strategic acquisition of Renovite will help J.P. Morgan Payments build its next-generation merchant acquiring platform, bolster the firm’s payments modernization strategy and support its journey to the cloud.
Upon closing of the transaction, Renovite will become part of J.P. Morgan Payments, which combines corporate treasury services, trade finance, card and merchant services capabilities at the firm, delivering an integrated payments experience to clients across the economy.
Max Neukirchen, Global Head of Payments & Commerce Solutions, J.P. Morgan, said: "We are excited to acquire Renovite and accelerate our roadmap for helping our clients stay at the cutting-edge of payments innovation. This acquisition will help us achieve our goal to develop the next-generation payments processing platform globally".
