S&P Global: Payments To Continue To Drive Finance M&A In Asia-Pacific
October 24, 2021
According to S&P Global Market Intelligence, the 180 M&A deals valued at $60.84 billion in the Asia Pacific financial sector in Q3 was largely driven by Square Inc.'s $26.90 billion acquisition of Australian buy-now, pay-later operator Afterpay Ltd. in August. It pushed third-quarter acquisitions in the finance industry to more than double the tally for the first half of the year and the highest quarterly value in at least five years.
Oliver Wyman’s Ben Balzer, Head of Private Capital for Asia Pacific, shared his views on this trend: “Within fintech, payments will see more activity and wealth technology, is gaining rapid traction. Payment providers, in particular, will likely drive activity due to rising demand, capital-light business models and the ability to cross-sell other financial services, such as loans. The outlook for deals in financial services remains strong in the final months of 2021 and into 2022.”
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