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00:03Capital One Financial said Thursday it will acquire fintech firm Brex in a cash and stock
00:08deal valued at $5.15 billion and reported higher quarterly profit driven by rising
00:13interest income from credit card debt. The deal is expected to close in mid-2026
00:19and will be structured on an approximate 50-50 cash stock basis. Brex provides corporate cards
00:25and expense management software used by companies such as DoorDash and Robinhood, which could
00:30expand Capital One's exposure beyond consumer credit and reduce reliance on that segment
00:35during economic downturns. Brex operates in more than 120 countries, according to its website.
00:42Capital One said Brex founder and chief executive Pedro Franceschi will remain in his role following
00:48the transaction. Shares of the consumer lender fell more than 5% after the deal announcement,
00:53but later paired losses to trade 1.5% lower. Shares fell more than 5% after the announcement,
01:00but paired losses to trade 1.5% lower. For all things money, visit Benzinga.com.
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