JPMorgan to acquire Xign |
|
|
|
Published
:
Wed, 18 Apr 2007 22:06
|
NEW YORK (AP) - JPMorgan Chase Bank NA Wednesday said it agreed to buy Xign Corp., a provider of business financial settlement solutions.Financial terms of the deal, which is expected to close in the second quarter of 2007, were not disclosed.Under the agreement, Xign, of Pleasanton, Calif., will be combined with the commercial card and procurement businesses of JPMorgan's treasury services unit.JPMorgan will acquire all of Xign's capital stock, as well as its technology, services and order-to-pay domain expertise, the companies said.Since October 2003, JPMorgan has partnered with Xign for its order-to-pay solution set, allowing customers to automate electronic purchase order delivery, invoicing and payments across Xign's network, the companies said.JPMorgan shares rose 4 cents to $52.11 in aftermarket electronic trading, after rising $1.89, or 3.8 percent, to close at $52.07 on the New York Stock Exchange. The company earlier reported its first-quarter net income rose 55 percent.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
Print this Story
Regulator approves new JPMorgan branches 