M&A Deal Summary

Mr. Cooper Group Acquires Providian Financial

On October 3, 2005, Mr. Cooper Group acquired financial services company Providian Financial for 6.1B USD

Acquisition Highlights
  • This is Mr. Cooper Group’s 9th transaction in the Financial Services sector.
  • This is Mr. Cooper Group’s largest (disclosed) transaction.
  • This is Mr. Cooper Group’s 9th transaction in the United States.
  • This is Mr. Cooper Group’s 3rd transaction in California.

M&A Deal Summary
Date 2005-10-03
Target Providian Financial
Sector Financial Services
Buyer(s) Mr. Cooper Group
Deal Type Add-on Acquisition
Deal Value 6.1B USD

Target

Providian Financial

San Francisco, California, United States
Providian Financial Corp., is a provider of credit cards to mainstream American customers. Providian offers a family of products designed to fit our cardholders' lives and provide the flexibility they need over time.

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Buyer(S) 1

Buyer

Mr. Cooper Group

Coppell, Texas, United States
Category Company
Founded 2015
Sector Financial Services
Employees6,800
Revenue 2.3B USD (2023)
DESCRIPTION

Mr. Cooper Group is a provider of quality servicing, origination, and transaction-based services related principally to single-family residences throughout the United States with operations under its primary brands: Mr. Cooper® and Xome®. Mr. Cooper Group was founded in 2015 and is based in Coppell, Texas.

DEAL STATS #
Overall 9 of 14
Sector (Financial Services) 9 of 14
Type (Add-on Acquisition) 5 of 8
State (California) 3 of 3
Country (United States) 9 of 14
Year (2005) 1 of 1
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-10-01 HomeSide Lending

Jacksonville, Florida, United States

HomeSide Lending, Inc. is a mortgage banking company.

Buy $1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-01 Commercial Capital Bancorp

Brandon, Florida, United States

Commercial Capital Bancorp, Inc., is a diversified financialservices company with $5.5 billion of total assets. Commercial Capital Bancorp provides depository and lendingproducts and services under the Commercial Capital Bank brand name,and provides 1031 exchange services to income property investorsnationwide under the TIMCOR Exchange Corporation, North AmericanExchange Company and Lawyers Asset Management brand names.

Buy $983M
Mergr

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