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  6. Plaid Acquires Cognito

M&A Deal Summary

Plaid Acquires Cognito

On January 20, 2022, Plaid acquired information technology company Cognito

Acquisition Highlights
  • This is Plaid’s 1st transaction in the Information Technology sector.
  • This is Plaid’s 2nd transaction in the United States.
  • This is Plaid’s 1st transaction in California.

M&A Deal Summary
Date 2022-01-20
Target Cognito
Sector Information Technology
Buyer(s) Plaid
Deal Type Add-on Acquisition

Target

Cognito

Walnut, California, United States
Cognito is focused on simplifying consumer and business identity verification through cutting-edge technology integrations and partnerships. The group hones in on the problems that high-growth companies face to deliver products tailored for large onboarding volumes. It empowers companies with advanced tech that helps to optimize customer onboarding experience using developer-centric infrastructure, and an industry-first gradual verification approach, maximizing match rates. Cognito is based in Walnut, California.

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Buyer(S) 1

Buyer

Plaid

San Francisco, California, United States
Category Company
Founded 2013
Sector Internet Software and Services
Employees150
DESCRIPTION

Plaid Inc. is a financial technology company that helps developers connect consumers and businesses with financial institutions via APIs, infrastructure, and tools. Plaid Inc. was established in 2013 and is headquartered in San Francisco, California.

DEAL STATS #
Overall 2 of 2
Sector: Information Technology M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: California M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-08 Quovo

New York, New York, United States

Quovo is the developer of a platform to help programmers with investment and brokerage aggregation. The Company was formed in 2010 and is based in New York City.

Buy $200M
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