Axos Financial in Las Vegas has agreed to buy Arc Technologies, a fintech that serves technology and growth companies.
The $29.2 billion-asset Axos said in a press release that it expects the deal to close later this month. The price wasn’t disclosed.
Arc provides cash management, capital markets, and AI-powered financial software solutions, helping businesses manage cash, access debt financing, and streamline financial operations.
“Arc brings an exceptional team, a modern technology platform, and deep expertise serving the innovation ecosystem,” Greg Garrabrants, Axos’ president and CEO, said in the release. “The combination of Arc’s product and software engineering capabilities with Axos’ diverse products and services, nationwide distribution, and capital resources creates a compelling opportunity to build a differentiated digital banking solution for businesses across their full lifecycle.”